NewzIntel.com

Category: Asia Pacific

  • MIL-OSI Asia-Pac: Feb retail sales down 13%

    Source: Hong Kong Information Services

    The value of total retail sales for February, provisionally estimated at $29.4 billion, decreased 13% compared with the same month a year earlier, the Census & Statistics Department announced today.

    After netting out the effect of price changes over the same period, the provisional estimate represents a 15% year-on-year decrease.

    Of the total retail sales value in February, online sales accounted for 7.8%. Provisionally estimated at $2.3 billion, the value of this segment dropped 7.3% from the same month a year earlier.

    Noting that retail sales tend to show greater volatility in the first two months of a year due to the timing of the Lunar New Year, the department said consumer spending in the local market normally attains a seasonal high before the festival.

    It added that as the Lunar New Year fell on January 29 this year but on February 10 last year, it is more appropriate to analyse the retail sales figures for January and February taken together in making a year-on-year comparison.

    For the first two months of 2025 taken together, it was provisionally estimated that the value of total retail sales decreased 7.8% year-on-year, while the value of online retail sales dropped 2.4% compared with the same period in 2024.

    The value of sales of other consumer goods not elsewhere classified dropped by 2% in the first two months of 2025 compared with a year earlier.

    This was followed by sales of jewellery, watches and clocks, and valuable gifts (down 15.8%); commodities in supermarkets ( down 4.4%); wearing apparel (down 5.4%); electrical goods and other consumer durable goods not elsewhere classified (down 5.3%); commodities in department stores (down 9.9%); fuels (down 8.5%); motor vehicles and parts (down 49.9%); footwear, allied products and other clothing accessories (down 12.3%); books, newspapers, stationery and gifts (down 10.9%); furniture and fixtures (down 25.6%); Chinese drugs and herbs (down 9.1%); and optical shops (down 7.6%).

    On the other hand, the value of sales of food, alcoholic drinks and tobacco increased by 0.7% in the first two months of 2025 over the same period a year earlier. This was followed by sales of medicines and cosmetics (up 0.6%).

    The Government commented that the year-on-year decline in the value of total retail sales in February widened, partly due to the earlier arrival of Lunar New Year in late January this year as compared to mid-February last year. 

    Taking the first two months of 2025 together to remove this effect, the value of total retail sales saw a narrower decline on a year-on-year basis than December 2024.

    Looking ahead, the Government said the various measures by the central government to boost the Mainland economy and benefit Hong Kong, together with the Special Administrative Region Government’s efforts to promote tourism and mega events and the sustained increases in employment earnings in local labour market, would benefit the retail sector.

    This is despite the continued challenge from the change in consumption patterns of visitors and residents, it added.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: PM remarks at the Organised Immigration Summit in central London: 31 March 2025

    Source: United Kingdom – Executive Government & Departments

    Speech

    PM remarks at the Organised Immigration Summit in central London: 31 March 2025

    The Prime Minister’s remarks at the Organised Immigration Summit in central London today (Monday 31 March).

    It’s great to welcome you all to Lancaster House. It was right here, earlier this month that the UK convened leaders from across Europe together with President Zelenskyy to support a just and lasting peace in Ukraine.

    Because we know that Ukraine’s security is our security. And we can only deliver it by taking bold action at home, with the biggest increase in defence spending since the Cold War.

    And also, by working together with our international partners. 

    Now – the same is clearly true for the security of our borders.

    Illegal migration is a massive driver of global insecurity. It undermines our ability to control who comes here. And that makes people angry. 

    It makes me angry, frankly because it is unfair on ordinary working people who pay the price, from the cost of hotels to our public services struggling under the strain.

    And it’s unfair on the illegal migrants themselves. Because these are vulnerable people being ruthlessly exploited by vile gangs.

    So look, we must each take decisive action in our own countries to deal with this. Nobody can doubt that the people we serve want this issue sorted.

    But the truth is – we can only smash these gangs, once and for all if we work together.

    Because this evil trade, it exploits the cracks between our institutions. Pits nations against one another. Profits from our inability at the political level to come together.

    And that’s why from the moment I took office we said the UK would convene this Summit.

    And I’m delighted today to be joined by all of you. Representatives from more than 40 countries across the world, building a truly international effort to defeat organised immigration crime.

    And let me tell you why. Let me take you back to a visit I made as a relatively new Member of Parliament in 2016 to the camp on the outskirts of Calais.

    I can still picture it now. The muddy ground, sodden with rain and human waste. 

    Children as young as five and seven, the same age as my children were then huddling together in freezing temperatures with almost nothing to keep them warm.

    Now, of course, that infamous camp has long since gone. But the evil of the people smuggling businesses that put people there, that remains.

    The gangs remain. That exploitation of desperation, misery and false hope – that all remains.

    There’s nothing progressive or compassionate about turning a blind eye to this. Nothing progressive or compassionate about continuing that false hope which attracts people to make those journeys.

    No – we have got to get to grips with it once and for all. That’s why when I spoke at the INTERPOL meeting in Glasgow last year I said we need to treat people-smuggling as a global security threat similar if you like to terrorism.

    We’ve got to bring to bear all the powers we have at our disposal in much the same way we do against terrorism.

    Before I was a politician, I was the Director of Public Prosecutions in England and Wales. We worked across borders throughout Europe and beyond to foil numerous plots.

    Saving thousands of lives in the process. We prevented planes from being blown up over the Atlantic. And we brought the perpetrators to justice.

    So I believe we should treat organised immigration crime in the exactly same way. I simply don’t believe organised immigration crime cannot be tackled.

    So – we’ve got to combine resources. Share intelligence and tactics. Tackle the problem upstream at every step of the people smuggling journey, from North Africa and the Middle East to the high streets of our biggest cities. 

    And look, to that end, we’ve already got to work. Begun to make progress since I came into office. The UK has re-set its entire approach to international collaboration.

    I’ve put smashing the gangs on the agenda of international summits. Showing that the UK now means business. Working together with our allies. We’ve struck new agreements and plans with so many of the countries represented in the room here today.

     Take our work with France as a good example. Now previously – their maritime doctrine prevented French law enforcement from responding to small boats in shallow waters.

    But now we’re working with them to change that, to make sure we get new border patrols and specialist units on the French coast using state-of-the-art surveillance technology.

    With Germany another example, if you can believe it, it wasn’t technically illegal to facilitate people-smuggling to a country outside the EU, like the United Kingdom. But now it will be.

    And with our new bilateral agreement Germany will be able to prosecute the criminal networks facilitating this vile trade.

    Just a few examples of the international collaboration that is so important to taking this challenge on. And it’s beginning to bear fruit.

    At the end of last year, a major operation by French, German and British law enforcement smashed an Iraqi smuggling network with multiple arrests and the seizure seizing hundreds of boats and engines.

    In Amsterdam, a man was arrested on suspicion of supplying hundreds of small boat parts to people smugglers.

    That was a joint operation with our National Crime Agency together with Dutch and Belgian police.

    We’re also working upstream to address factors that drive people towards small boats in the first place.

    Working with the authorities in Albania and Vietnam on campaigns to deter those who are thinking about making that perilous journey.

    Because there is also nothing progressive about allowing working age people to come here illegally instead of supporting them to build their own economies, secure a better future for their own countries, and build a safer, more prosperous world.

    But look – as we work together more closely I think than ever before we’ve also got to take the tough measures at home in our own countries.

    That doesn’t mean gimmicks. You may be familiar with the gimmicks of the last 14 years here in Britain. It means understanding the problem.

    And coming up with pragmatic solutions that work. Actually, fixing what’s wrong.

    Few things show this more clearly, than our approach to border security. We inherited this total fragmentation between our policing, our Border Force and our intelligence agencies.

    A fragmentation that made it crystal clear, when I looked at it, that there were gaps in our defence. An open invitation at our borders for the people smugglers to crack on.

    To be honest it should have been fixed years ago. But we’re doing it now with our new Border Security Command. Led by Martin Hewitt – who many of you I think will know.

    We’re recruiting hundreds of specialist investigators from across our police, our Border Force and intelligence agencies. Creating an elite Border Force. Working with our international partners. Ending the fragmentation. 

    £150 million invested over the next two years and new powers and criminal offences to get the job done. So the police will be able to seize the phones and devices of migrants arriving on our shores and gather intelligence about the smugglers. 

    The police will be able to act when they have reason to believe preparations are being made for criminal activity instead of waiting for a crime to happen before they can act.

    And it will be an offence to endanger lives at sea to prevent more tragic deaths in the Channel.

    We are also redeploying resources away from the Tory’s wasteful Rwanda scheme. A scheme that spent over 700 million pounds of taxpayer money to remove just four volunteers.

    You know, even if that scheme had gone well, they were claiming they might remove – 300 people a year.

    Since coming to office – I can announce today we have returned more than 24,000 people who have no right to be here. 

    That would have taken the Rwanda scheme 80 years to achieve. This is what I mean about not giving in to gimmicks. Just focusing our efforts and resources on the nuts and bolts of removing people. Getting the asylum system working properly. That’s how we’ve delivered the highest returns rate for eight years and the four biggest return flights ever.

    We’re also ramping up the deportation of Foreign National Offenders with a new team of specialist frontline staff going into our prisons, speeding up the removal of prisoners who have no right to be in this country.

    Now, all of this is providing a real disincentive to people thinking about coming to Britain illegally. But if we’re talking about incentives – we need to talk about the people smugglers as well.

    Because they don’t care about borders. They don’t care about the people they traffic. And they don’t care about our country and our people.

    They only care about one thing: money. They make huge profits out of ruining people’s lives. I mean – a few months ago, I went to see some of the boats that had been seized at the NCA headquarters. 

    Now we call them small boats, but honestly they’re not worthy of the name boat. I don’t know what you would call them. To me they look like death traps.

    Flimsy. Rubber. No firm structure. You would not let your children climb aboard, even for a second in shallow waters.

    Seriously – if they were a car, they’d be off the road in minutes. The police would intervene. 

    And don’t tell me they’ve got any purpose other than people smuggling. So I see no reason why we can’t go after them. And so we are.

    We have seized hundreds of boats and engines, driving up the costs for the smugglers.

    We have taken down 18,000 social media accounts. That’s 10,000 more than last year, disrupting the way smugglers promote their services.

    And more than that, we have announced a new sanctions regime. Treating people smugglers like terrorists. Freezing their assets, banning their travel.

    Putting them behind bars – where they belong. But just as important – putting their entire model, out of business, securing our borders on behalf of working people.

    Because as I said at the start – this is about fairness. And there is little that strikes working people as more unfair than watching illegal migration drive down their wages, their terms and their conditions through illegal work in their community. 

    We have to be honest here. For too long, the UK has been a soft touch on this. While the last government were busy with their Rwanda gimmick, they left the door wide open for illegal working.

    Especially in short-term or zero-hours roles like in construction, beauty salons and courier services.

    And while of course most companies do the responsible thing and carry out right to work checks.

    Too many dodgy firms have been exploiting a loophole to skip this process: hiring illegal workers, undercutting honest businesses, driving down the wages of ordinary working people. 

    And all of this, of course fuelling that poisonous narrative of the gangs who promise the dream of a better life to vulnerable people yet deliver a nightmare of squalid conditions and appalling exploitation.

    Well, today we are changing that because this government is introducing a tough new law to force all companies to carry out these checks on right to work.

    They take just minutes to complete – so they are not burdensome for business. And they can be done free of charge – so there will be no excuses.

    And no ability to claim they didn’t know they had illegal workers. And failure to comply will result in fines of up to £60,000. Prison terms of up to 5 years and the potential closure of their business.

    Now, none of these strategies on their own are a silver bullet. I know that.

    But each of them is another tool. An arsenal we are building up to smash the gangs once and for all.

    We must pull every lever available. And that is what this Labour government is doing. 

    No short cuts, no gimmicks. Just the hard graft of sleeves-rolled-up, practical government. 

    Securing our borders. Getting a grip on illegal migration. Delivering our Plan for Change.

    We want to work with you and with everyone who is as determined as we are to end the misery and evil of people-smuggling.

    Because together we will save lives.

    We will secure our borders.

    We will smash the gangs that undermine our security…

    And deliver fairness for the working people we serve.

    Thank you.

    Updates to this page

    Published 31 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: ASIA/BAHRAIN – “The dream comes true”: Inauguration of the Pontifical Society of the Holy Childhood in the Apostolic Vicariate of Northern Arabia

    Source: Agenzia Fides – MIL OSI

    Monday, 31 March 2025

    Avona

    Awali (Agenzia Fides) – “Sowing the seeds of the Pontifical Mission Societies in the Apostolic Vicariate of Northern Arabia (AVONA) is a herculean task due to its jurisdiction in four countries, Bahrain, Kuwait, Qatar and Saudi Arabia. Fortunately, a ‘visionary’ sees a solution for every problem” writes Father Marcus Fernandes OFM.Cap., delegate of the Missio-Avona, to Fides. The reference is to the Apostolic Vicar of Avona, Bishop Aldo Berardi, O.SS.T., defined precisely as “the ‘visionary’ Bishop who promoted the mission in the Vicariate” thanks to which the Pontifical Society of the Holy Childhood was inaugurated.During the celebration of the mass held on Friday, March 28 in the Cathedral of Our Lady of Arabia (OLA), in Awali, Bishop Berardi welcomed the first 46 child volunteers of the Holy Childhood Society. “Praying, helping and sharing the Gospel is the mission of children” the bishop recalled in his homily recalling the three mottos of the Holy Childhood and inviting all those present to pray and share the Gospel every day.”On January 5 – continues Fr. Marcus – we had celebrated the Holy Childhood day and, to make this day a memorable one, the Missio-Avona Office organized an essay and drawing competition based on the theme “Children are the Missionaries of Hope”, with the aim of creating an interest and to know about the Holy Childhood or Pontifical Mission Societies.”“We received beautiful essays and drawings, the children expressed their emotions to the fullest. The winners of the competitions were declared during the Inaugural mass of the Awali Holy childhood society on 28th March 2025 in Bahrain and the winner’s name will be published in our digital magazinelaunched on December 10, 2024 (see Fides, 12/12/2024) on the occasion of the third anniversary of the dedication of the Cathedral of Our Lady of Arabia.”Bishop Berardi, along with Rector of the Cathedral Fr. Saji Thomas, ofm Cap., and other coordinators of the Holy Childhood concelebrated the mass. “During the Eucharist – adds the Apostolic Vicar – we prayed for the people in Myanmar devastated by the serious earthquake on Friday 28 March. We offer masses for them. The destruction of places of worship has touched us deeply.”‘What do you ask from the Church?’ was the question that the Apostolic Vicar asked the children before the final blessing. “The children recited the pledge and expressed their desire to make them child missionaries to become friends of Jesus and to serve the children.”“The day ended with a big feast together with the families. Now the entire operational group in the Cathedral and our four coordinators are ready to continue the missionary zeal of the children – concludes the delegate of the Pontifical Mission Societies.With the establishment of the Holy Childhood Society in the Cathedral of Bahrain, under the Leadership of our Apostolic vicar, the Pontifical Mission Societies are seeing their good days in the Apostolic Vicariate of Northern Arabia”. (AP) (Agenzia Fides, 31/3/2025)
    Avona

    Share:

    MIL OSI Europe News –

  • MIL-OSI Security: Appeal: officers look to return jewellery to rightful owners

    Source: United Kingdom London Metropolitan Police

    Officers are seeking to reunite owners with their property, after stolen jewellery was recovered as part of a proactive police operation in London and the home counties.

    The jewellery includes identifiable items such as a World War 1 officers’ Rolex watch, a gold locket containing old pictures, an engraved gold ring and an engraved gold pocket watch from Harlow Bros Ltd.

    A gold wedding ring, gold necklaces and a gold hair pin were also found.

    Detective Sergeant Lee Davison who is leading the investigation said:

    “The stolen jewellery was largely taken from London’s south Asian community across 2023 and 2024 in Houslow and was recovered as part of a year-long operation.

    “While it is believed to be worth over a million pounds in total, it is the sentimental value that remains priceless.

    “This is why myself and the team are working tirelessly to identify the owners and are urging anyone who recognises the jewellery to contact us on 101, quoting 01/1113701/24.

    Four men have been charged with conspiracy to commit burglary and await trial.

    ENDS

    MIL Security OSI –

  • MIL-OSI: FTC Solar Announces Fourth Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    • Fourth quarter revenue of $13.2 million, at the high end of our prior target
    • Entered into 5-gigawatt supply arrangement with Recurrent Energy
    • Awarded 330+ megawatt project in Australia from GPG Naturgy
    • Awarded 280-megawatt project in U.S. from Rosendin
    • Appointed industry veteran Kent James as U.S. Chief Commercial Officer
    • Received additional $3.2 million earn-out on prior investment post quarter end
    • Announced upsizing of promissory note offering for up to additional $10-$15 mil. to close in Q2

    AUSTIN, Texas, March 31, 2025 (GLOBE NEWSWIRE) —  FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, today announced financial results for the fourth quarter that ended December 31, 2024.

    “In addition to reporting favorable quarterly results relative to our targets, I’m pleased to say that we have had a number of recent wins and building momentum,” said Yann Brandt, President and Chief Executive Officer of FTC Solar. “Last quarter I highlighted a new 1-gigawatt supply agreement with Dunlieh Energy, a 500+ megawatt supply agreement with Strata Clean Energy, additional detail on a 1-gigawatt agreement with Sandhills Energy, a $15 million note placement and a $4.7 million cash earn-out on a prior investment. Building on those successes, today we announced several additional wins, including a new 5-gigawatt supply arrangement with Recurrent Energy, a 330+ megawatt project award from GPG Naturgy, a 280-megawatt project award from Rosendin, an additional earn-out payment, and an upsizing to our promissory note offering.

    “During the first six months of my tenure, we have been focused on shoring up our near-term backlog. In aggregate we have added multiples of our current annual revenue run rate to our backlog, signing several gigawatts of agreements with Tier 1 accounts along with other awards, added more than $30 million in additional liquidity to our balance sheet, strengthened our sales team with new hires including Kent James, further strengthened our product offering and capabilities and increased our commercial traction with bids on many gigawatts of future projects.

    “I believe that FTC Solar is in an incredibly fortunate situation in many respects with products that customers love, a business they enjoy working with, a cost structure that will enable strong margin growth and profitability, and a compelling 1P product set that opens up the 85% of the market that wasn’t available to us in the past. We believe our revenue bottomed in Q3, we saw growth in Q4, expect growth in Q1, and have been winning many new awards that we believe will help us ramp our revenue, achieve adjusted EBITDA breakeven, and become a strong and significant competitor in the industry.” 

    Summary Financial Performance: Q4 2024 compared to Q4 2023

        U.S. GAAP     Non-GAAP(c)  
        Three months ended December 31,  
    (in thousands, except per share data)   2024     2023     2024     2023  
    Revenue   $ 13,202     $ 23,201     $ 13,202     $ 23,201  
    Gross margin percentage     (29.1 %)     3.0 %     (25.6 %)     4.8 %
    Total operating expenses   $ 9,591     $ 12,428     $ 7,391     $ 10,848  
    Loss from operations(a)   $ (13,428 )   $ (11,736 )   $ (9,840 )   $ (10,050 )
    Net loss   $ (12,235 )   $ (11,177 )   $ (10,228 )   $ (9,657 )
    Diluted loss per share(b)   $ (0.96 )   $ (0.89 )   $ (0.80 )   $ (0.77 )


    (a)   Adjusted EBITDA for Non-GAAP
    (b)   Prior year amounts per share have been revised to reflect the 1-for-10 reverse stock split, effective November 29, 2024
    (c)   See below for reconciliation of Non-GAAP financial measures to the nearest comparable GAAP measures

    Reflecting net purchase order additions and adjustments since November 12, 2024, the contracted portion of the company’s backlog1 now stands at approximately $502 million. 

    Fourth Quarter Results
    Total fourth-quarter revenue was $13.2 million, within our target range. This revenue level represents an increase of 30.2% compared to the prior quarter and a decrease of 43.1% compared to the year-earlier quarter due to lower product volumes.

    GAAP gross loss was $3.8 million, or 29.1% of revenue, compared to gross loss of $4.3 million, or 42.5% of revenue, in the prior quarter. Non-GAAP gross loss was $3.4 million or 25.6% of revenue. The result for this quarter compares to non-GAAP gross profit of $1.1 million in the prior-year period, with the difference driven primarily by the impact of lower current quarter revenues which were not sufficient to cover certain fixed indirect costs.

    GAAP operating expenses were $9.6 million. On a non-GAAP basis, operating expenses were $7.4 million. This result compares to non-GAAP operating expenses of $10.8 million in the year-ago quarter. 

    GAAP net loss was $12.2 million or $0.96 per diluted share, compared to a loss of $15.4 million or $1.21 per diluted share in the prior quarter (post-split) and a net loss of $11.2 million or $0.89 per diluted share (post-split) in the year-ago quarter. Adjusted EBITDA loss, which excludes an approximate $2.4 million net loss from stock-based compensation expense and other non-cash items, was $9.8 million, compared to losses of $12.2 million(2) in the prior quarter and $10.1 million in the year-ago quarter.

    Subsequent Events
    The company announced today a number of agreements, awards or other items which occurred subsequent to the end of the fourth quarter, including: 

    • A 5-gigawatt supply arrangement with Recurrent Energy. Recurrent is one of the world’s largest and most geographically diversified utility-scale solar developers. The projects are expected to be located in the U.S., Europe and Australia and utilize a combination of our 1P and 2P tracker technologies. It’s anticipated that the first project revenue under this arrangement will begin in the second half of 2025.
    • A 333-megawatt project award from GPG, the power generation subsidiary of multinational energy leader Naturgy, which operates in more than 20 countries with 16 million customers. The project, which is located in Australia, will utilize our 1P Pioneer tracker and is expected to begin tracker production in mid-2025.
    • A 280-megawatt project award from Rosendin, a top 5 EPC and the largest employee-owned electrical contractor in the U.S. The project, which is located on the U.S. West Coast, will also utilize our 1P Pioneer solution and is expected to begin tracker production in mid-2025. 
    • A $3.2 million earn-out on the company’s prior investment in Dimension Energy. The payment, which was received in the first quarter of 2025, brings the total escrow release and earn-outs received since 2021 to more than $15 million.
    • And finally, on March 4, 2024, the company entered into a binding term sheet to upsize the previously announced promissory note offering. Under the terms of the upsized agreement the company will issue to the Investor, in a private placement, senior secured promissory notes in an aggregate principal amount of up to an additional $10-$15 million dollars and common stock purchase warrants. The transaction is expected to close during the second quarter. This is in addition to the $15 million received in the fourth quarter of 2024.

    Outlook
    For the first quarter, we expect revenue at the midpoint of our guidance range to be up approximately 44% relative to the fourth quarter.

    (in millions) 4Q’24
    Guidance    		   4Q’24
    Actual    		   1Q’25
    Guidance(3)
    Revenue $10.0 – $14.0   $13.2    $18.0 – $20.0
    Non-GAAP Gross Loss $(4.2) – $(1.5)   $(3.4)   $(4.8) – $(2.3)
    Non-GAAP Gross Margin (42.2%) – (10.7%)   (25.6%)   (26.6%) – (11.7%)
    Non-GAAP operating expenses $8.2 – $9.0   $7.4    $7.7 – $8.4
    Non-GAAP adjusted EBITDA $(13.7) – $(9.9)   $(9.8)   $(13.3) – $(10.0)

    We continue to expect to achieve adjusted EBITDA breakeven on a quarterly basis within 2025.

    Fourth Quarter 2024 Earnings Conference Call
    FTC Solar’s senior management will host a conference call for members of the investment community at 8:30 a.m. E.T. today, during which the company will discuss its fourth quarter results, its outlook and other business items. This call will be webcast and can be accessed within the Investor Relations section of FTC Solar’s website at https://investor.ftcsolar.com. A replay of the conference call will also be available on the website for 30 days following the webcast.

    About FTC Solar Inc.
    Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a global provider of solar tracker systems, technology, software, and engineering services. Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun. FTC Solar’s innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.

    Footnotes
    1. The term ‘backlog’ or ‘contracted and awarded’ refers to the combination of our executed contracts (contracted) and awarded orders (awarded), which are orders that have been documented and signed through a contract, where we are in the process of documenting a contract but for which a contract has not yet been signed, or that have been awarded in writing or verbally with a mutual understanding that the order will be contracted in the future. In the case of certain projects, including those that are scheduled for delivery on later dates, we have not locked in binding pricing with customers, and we instead use estimated average selling price to calculate the revenue included in our contracted and awarded orders for such projects. Actual revenue for these projects could differ once contracts with binding pricing are executed, and there is also a risk that a contract may never be executed for an awarded but uncontracted project, or that a contract may be executed for an awarded but uncontracted project at a date that is later than anticipated, or that a contract once executed may be subsequently amended, supplemented, rescinded, cancelled or breached, including in a manner that impacts the timing and amounts of payments due thereunder, thus reducing anticipated revenues. Please refer to our SEC filings, including our Form 10-K, for more information on our contracted and awarded orders, including risk factors.
    2. A reconciliation of prior quarter Non-GAAP financial measures to the nearest comparable GAAP measures may be found in Exhibit 99.1 of our Form 8-K filed on November 12, 2024.
    3. We do not provide a quantitative reconciliation of our forward-looking non-GAAP guidance measures to the most directly comparable GAAP financial measures because certain information needed to reconcile those measures is not available without unreasonable efforts due to the inherent difficulty in forecasting and quantifying these measures as a result of changes in project schedules by our customers that may occur, which are outside of our control, and the impact, if any, of credit loss provisions, asset impairment charges, restructuring or changes in the timing and level of indirect or overhead spending, as well as other matters, that could occur which could significantly impact the related GAAP financial measures.

    Forward-Looking Statements
    This press release contains forward looking statements. These statements are not historical facts but rather are based on our current expectations and projections regarding our business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, including, without limitation, the risks and uncertainties described in more detail above and in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”), our Quarterly Reports on Form 10-Q, and other documents, including Current Reports on Form 8-K, that we have filed, or will file, with the SEC. You should not rely on our forward-looking statements as predictions of future events, as actual results may differ materially from those in the forward-looking statements as a result of certain risks and uncertainties, including, without limitation, the risks and uncertainties described in more detail above and in our filings with the SEC, including the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K filed with the SEC, our Quarterly Reports on Form 10-Q, and other documents, including Current Reports on Form 8-K, that we have filed, or will file, with the SEC. Any forward-looking statements in this release speak only as of the date on which they are made. FTC Solar undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    FTC Solar Investor Contact:
    Bill Michalek
    Vice President, Investor Relations
    FTC Solar
    T: (737) 241-8618
    E: IR@FTCSolar.com

     
    FTC Solar, Inc.
    Condensed Consolidated Statements of Comprehensive Loss
    (unaudited)
     
      Three months ended December 31,     Year ended December 31,  
    (in thousands, except shares and per share data) 2024     2023     2024     2023  
    Revenue:                      
    Product $ 10,428     $ 20,945     $ 37,520     $ 101,872  
    Service   2,774       2,256       9,835       25,130  
    Total revenue   13,202       23,201       47,355       127,002  
    Cost of revenue:                      
    Product   13,553       19,620       48,185       93,314  
    Service   3,486       2,889       11,764       25,381  
    Total cost of revenue   17,039       22,509       59,949       118,695  
    Gross profit (loss)   (3,837 )     692       (12,594 )     8,307  
    Operating expenses                      
    Research and development   1,474       1,450       5,915       7,166  
    Selling and marketing   2,051       4,924       8,881       14,811  
    General and administrative   6,066       6,054       25,440       37,107  
    Total operating expenses   9,591       12,428       40,236       59,084  
    Loss from operations   (13,428 )     (11,736 )     (52,830 )     (50,777 )
    Interest expense, net   (208 )     (59 )     (319 )     (253 )
    Gain from disposal of investment in unconsolidated subsidiary   4,722       421       8,807       1,319  
    Gain on sale of Atlas   906       —       906       —  
    Loss from change in fair value of warrant liability   (4,322 )     —       (4,322 )     —  
    Other income (expense), net   346       8       468       (257 )
    Loss from unconsolidated subsidiary   (319 )     (324 )     (1,086 )     (660 )
    Loss before income taxes   (12,303 )     (11,690 )     (48,376 )     (50,628 )
    (Provision for) benefit from income taxes   68       513       (230 )     338  
    Net loss   (12,235 )     (11,177 )     (48,606 )     (50,290 )
    Other comprehensive income (loss):                      
    Foreign currency translation adjustments   (311 )     219       (249 )     (232 )
    Comprehensive loss $ (12,546 )   $ (10,958 )   $ (48,855 )   $ (50,522 )
    Net loss per share:                      
    Basic and diluted (*) $ (0.96 )   $ (0.89 )   $ (3.83 )   $ (4.35 )
    Weighted-average common shares outstanding:                      
    Basic and diluted (*)   12,787,050       12,510,743       12,675,923       11,554,615  

    ___________

    (*) Prior year amounts per share and number of shares, as applicable, have been revised to reflect the 1-for-10 reverse stock split, effective November 29, 2024.
    FTC Solar, Inc.
    Condensed Consolidated Balance Sheets
    (unaudited)
     
    (in thousands, except shares and per share data)   December 31, 2024     December 31, 2023  
    ASSETS            
    Current assets            
    Cash and cash equivalents   $ 11,247     $ 25,235  
    Accounts receivable, net of allowance for credit losses of $1,717 and $8,557 at December 31, 2024 and December 31, 2023, respectively     39,709       65,279  
    Inventories     10,144       3,905  
    Prepaid and other current assets     15,028       14,089  
    Total current assets     76,128       108,508  
    Operating lease right-of-use assets     1,149       1,819  
    Property and equipment, net     2,217       1,823  
    Intangible assets, net     —       542  
    Goodwill     7,139       7,353  
    Equity method investment     954       240  
    Other assets     2,341       2,785  
    Total assets   $ 89,928     $ 123,070  
    LIABILITIES AND STOCKHOLDERS’ EQUITY            
    Current liabilities            
    Accounts payable   $ 12,995     $ 7,979  
    Accrued expenses     20,134       34,848  
    Income taxes payable     325       88  
    Deferred revenue     5,306       3,612  
    Other current liabilities     10,313       8,138  
    Total current liabilities     49,073       54,665  
    Long-term debt     9,466       —  
    Operating lease liability, net of current portion     411       1,124  
    Warrant liability     9,520       —  
    Other non-current liabilities     2,422       4,810  
    Total liabilities     70,892       60,599  
    Commitments and contingencies            
    Stockholders’ equity            
    Preferred stock par value of $0.0001 per share, 10,000,000 shares authorized; none issued as of December 31, 2024 and December 31, 2023     —       —  
    Common stock par value of $0.0001 per share, 850,000,000 shares authorized; 12,853,823 and 12,544,533 shares issued and outstanding as of December 31, 2024 and December 31, 2023(*)     1       1  
    Treasury stock, at cost; 1,076,257 shares as of December 31, 2024 and December 31, 2023     —       —  
    Additional paid-in capital(*)     367,318       361,898  
    Accumulated other comprehensive loss     (542 )     (293 )
    Accumulated deficit     (347,741 )     (299,135 )
    Total stockholders’ equity     19,036       62,471  
    Total liabilities and stockholders’ equity   $ 89,928     $ 123,070  

    ___________

    (*) Prior year shares and amounts, as applicable, have been revised to reflect the 1-for-10 reverse stock split, effective November 29, 2024.
    FTC Solar, Inc.
    Condensed Consolidated Statements of Cash Flows
    (unaudited)
     
        Year ended December 31,  
    (in thousands)   2024     2023  
    Cash flows from operating activities            
    Net loss   $ (48,606 )   $ (50,290 )
    Adjustments to reconcile net loss to cash used in operating activities:            
    Stock-based compensation     5,412       8,295  
    Depreciation and amortization     1,671       1,375  
    Loss from change in fair value of warrant liability     4,322       —  
    Gain from sale of property and equipment     —       (2 )
    Amortization of debt discount and issue costs     296       709  
    Paid-in-kind non-cash interest     146       —  
    Provision for obsolete and slow-moving inventory     177       706  
    Loss from unconsolidated subsidiary     1,086       660  
    Gain from disposal of investment in unconsolidated subsidiary     (8,807 )     (1,319 )
    Gain on sale of Atlas     (906 )     —  
    Warranties issued and remediation added     7,204       4,310  
    Warranty recoverable from manufacturer     558       90  
    Credit loss provisions     2,072       7,373  
    Deferred income taxes     83       138  
    Lease expense and other     1,123       996  
    Impact on cash from changes in operating assets and liabilities:            
    Accounts receivable     23,498       (23,600 )
    Inventories     (6,416 )     10,338  
    Prepaid and other current assets     (934 )     (3,681 )
    Other assets     (376 )     383  
    Accounts payable     4,963       (7,960 )
    Accruals and other current liabilities     (19,292 )     10,582  
    Deferred revenue     1,754       (7,704 )
    Other non-current liabilities     (2,696 )     (3,083 )
    Lease payments and other, net     (1,031 )     (972 )
    Net cash used in operations     (34,699 )     (52,656 )
    Cash flows from investing activities:            
    Purchases of property and equipment     (1,645 )     (816 )
    Proceeds from sale of Atlas software platform     900       —  
    Equity method investment in Alpha Steel     (1,800 )     (900 )
    Proceeds from disposal of investment in unconsolidated subsidiary     8,807       1,319  
    Net cash provided by (used in) investing activities     6,262       (397 )
    Cash flows from financing activities:            
    Proceeds from borrowings     14,550       —  
    Sale of common stock     —       34,007  
    Stock offering costs paid     —       (283 )
    Financing costs paid     (60 )     —  
    Proceeds from stock option exercises     8       226  
    Net cash provided by financing activities     14,498       33,950  
    Effect of exchange rate changes on cash and cash equivalents     (49 )     (47 )
    Decrease in cash and cash equivalents     (13,988 )     (19,150 )
    Cash and cash equivalents at beginning of period     25,235       44,385  
    Cash and cash equivalents at end of period   $ 11,247     $ 25,235  


    Notes to Reconciliations of Non-GAAP Financial Measures to Nearest Comparable GAAP Measures

    We utilize Adjusted EBITDA, Adjusted Net Loss, and Adjusted EPS as supplemental measures of our performance. We define Adjusted EBITDA as net loss plus (i) provision for (benefit from) income taxes, (ii) interest expense, net, (iii) depreciation expense, (iv) amortization of intangibles, (v) stock-based compensation, (vi) loss from changes in fair value of our warrant liability, and (vii) Chief Executive Officer (“CEO”) transition costs, non-routine legal fees, costs associated with our reverse stock split, severance and certain other costs (credits). We also deduct the contingent gains arising from earnout payments and project escrow releases relating to the disposal of our investment in an unconsolidated subsidiary and gains from changes in fair value of our warrant liability from net loss in arriving at Adjusted EBITDA. We define Adjusted Net Loss as net loss plus (i) amortization of debt discount and issue costs and intangibles, (ii) stock-based compensation, (iii) loss from changes in fair value of our warrant liability, (iv) CEO transition costs, non-routine legal fees, costs associated with our reverse stock split, severance and certain other costs (credits), and (v) the income tax expense (benefit) of those adjustments, if any. We also deduct the contingent gains arising from earnout payments and project escrow releases relating to the disposal of our investment in an unconsolidated subsidiary and gains from change in fair value of our warrant liability from net loss in arriving at Adjusted Net Loss. Adjusted EPS is defined as Adjusted Net Loss on a per share basis using our weighted average diluted shares outstanding.

    Non-GAAP gross profit (loss), Non-GAAP operating expense, Adjusted EBITDA, Adjusted Net Loss and Adjusted EPS are intended as supplemental measures of performance that are neither required by, nor presented in accordance with, U.S. generally accepted accounting principles (“GAAP”). We present these non-GAAP measures, many of which are commonly used by investors and analysts, because we believe they assist those investors and analysts in comparing our performance across reporting periods on an ongoing basis by excluding items that we do not believe are indicative of our core operating performance. In addition, we use Adjusted EBITDA, Adjusted Net Loss and Adjusted EPS to evaluate the effectiveness of our business strategies.

    Non-GAAP gross profit (loss), Non-GAAP operating expense, Adjusted EBITDA, Adjusted Net Loss and Adjusted EPS should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP, and you should not rely on any single financial measure to evaluate our business. These Non-GAAP financial measures, when presented, are reconciled to the most closely applicable GAAP measure as disclosed below.

    The following table reconciles Non-GAAP gross profit (loss) to the most closely related GAAP measure for the three and twelve months ended December 31, 2024 and 2023, respectively:

      Three months ended December 31,     Year ended December 31,  
    (in thousands, except percentages) 2024     2023     2024     2023  
    U.S. GAAP revenue $ 13,202     $ 23,201     $ 47,355     $ 127,002  
    U.S. GAAP gross profit (loss) $ (3,837 )   $ 692     $ (12,594 )   $ 8,307  
    Depreciation expense   182       139       716       478  
    Stock-based compensation   203       283       902       1,596  
    Severance costs   70       —       70       252  
    Non-GAAP gross profit (loss) $ (3,382 )   $ 1,114     $ (10,906 )   $ 10,633  
    Non-GAAP gross margin percentage   (25.6 %)     4.8 %     (23.0 %)     8.4 %

    The following table reconciles Non-GAAP operating expenses to the most closely related GAAP measure for the three and twelve months ended December 31, 2024 and 2023, respectively:

      Three months ended December 31,     Year ended December 31,  
    (in thousands) 2024     2023     2024     2023  
    U.S. GAAP operating expenses $ 9,591     $ 12,428     $ 40,236     $ 59,084  
    Depreciation expense   (126 )     (99 )     (420 )     (355 )
    Amortization expense   (134 )     (133 )     (535 )     (542 )
    Stock-based compensation   (966 )     1,032       (4,510 )     (6,699 )
    CEO transition   (194 )     —       (1,423 )     —  
    Non-routine legal fees   —       (33 )     (66 )     (214 )
    Reverse stock split   (212 )     —       (212 )     —  
    Severance costs   (568 )     (2,347 )     (568 )     (4,170 )
    Other (costs) credits   —       —       —       (3,241 )
    Non-GAAP operating expenses $ 7,391     $ 10,848     $ 32,502     $ 43,863  

    The following table reconciles Non-GAAP Adjusted EBITDA to the related GAAP measure of loss from operations for the three and twelve months ended December 31, 2024 and 2023, respectively:

      Three months ended December 31,     Year ended December 31,  
    (in thousands) 2024     2023     2024     2023  
    U.S. GAAP loss from operations $ (13,428 )   $ (11,736 )   $ (52,830 )   $ (50,777 )
    Depreciation expense   308       238       1,136       833  
    Amortization expense   134       133       535       542  
    Stock-based compensation   1,169       (749 )     5,412       8,295  
    CEO transition   194       —       1,423       —  
    Non-routine legal fees   —       33       66       214  
    Reverse stock split   212       —       212       —  
    Severance costs   638       2,347       638       4,422  
    Other costs   —       —       —       3,241  
    Other income (expense), net   346       8       468       (257 )
    Gain on sale of Atlas   906       —       906       —  
    Loss from unconsolidated subsidiary   (319 )     (324 )     (1,086 )     (660 )
    Adjusted EBITDA $ (9,840 )   $ (10,050 )   $ (43,120 )   $ (34,147 )

    The following table reconciles Non-GAAP Adjusted EBITDA and Adjusted Net Loss to the related GAAP measure of net loss for the three months ended December 31, 2024 and 2023, respectively:

      Three months ended December 31,  
      2024     2023  
    (in thousands, except shares and per share data) Adjusted EBITDA     Adjusted Net Loss     Adjusted EBITDA     Adjusted Net Loss  
    Net loss per U.S. GAAP $ (12,235 )   $ (12,235 )   $ (11,177 )   $ (11,177 )
    Reconciling items –                      
    Provision for (benefit from) income taxes   (68 )     —       (513 )     —  
    Interest (income) expense, net   208       —       59       —  
    Amortization of debt discount and issue costs in interest expense   —       60       —       177  
    Depreciation expense   308       —       238       —  
    Amortization of intangibles   134       134       133       133  
    Stock-based compensation   1,169       1,169       (749 )     (749 )
    Gain from disposal of investment in unconsolidated subsidiary(a)   (4,722 )     (4,722 )     (421 )     (421 )
    Loss from change in fair value of warrant liability(b)   4,322       4,322       —       —  
    CEO transition(c)   194       194       —       —  
    Non-routine legal fees(d)   —       —       33       33  
    Reverse stock split(e)   212       212       —       —  
    Severance costs(f)   638       638       2,347       2,347  
    Adjusted Non-GAAP amounts $ (9,840 )   $ (10,228 )   $ (10,050 )   $ (9,657 )
                           
    Adjusted Non-GAAP net loss per share (Adjusted EPS):                      
    Basic and diluted(g) N/A     $ (0.80 )   N/A     $ (0.77 )
                           
    Weighted-average common shares outstanding:                      
    Basic and diluted(g) N/A       12,787,050     N/A       12,510,743  
    (a) We exclude the gain from collections of contingent contractual amounts arising from the sale in 2021 of our investment in an unconsolidated subsidiary as these amounts are not considered part of our normal ongoing operations.
    (b) We exclude non-cash changes in the fair value of our outstanding warrants as we do not consider such changes to impact or reflect changes in our core operating performance.
    (c) In connection with hiring a new CEO in August 2024, we agreed to upfront and incremental sign-on bonuses (collectively, the “sign-on bonuses”), a portion of which was paid to our CEO in 2024, with clawback provisions during 2025 and 2026, and a portion of which will be paid in 2025 and 2026, all contingent upon continued employment as of the payment date. These sign-on bonuses will be expensed each period through October 1, 2026, to reflect the required service periods. We do not view these sign-on bonuses as being part of the normal on-going compensation arrangements for our CEO.
    (d) Non-routine legal fees represent legal fees and other costs incurred for specific matters that were not ordinary or routine to the operations of the business.
    (e) We incurred incremental legal and professional fees to implement a reverse stock split that was consummated effective November 29, 2024. We do not consider these fees to be part of our normal ongoing operations.
    (f) Severance costs were incurred during 2024 and 2023, due to restructuring changes involuntarily impacting a number of employees each period, to adjust our operations to reflect current market and activity levels and to take advantage of process efficiencies gained.
    (g) Prior year shares and amounts, as applicable, have been revised to reflect the 1-for-10 reverse stock split, effective November 29, 2024.

    The following table reconciles Non-GAAP Adjusted EBITDA and Adjusted Net Loss to the related GAAP measure of net loss for the twelve months ended December 31, 2024 and 2023, respectively:

      Year ended December 31,  
      2024     2023  
    (in thousands, except shares and per share data) Adjusted EBITDA     Adjusted Net Loss     Adjusted EBITDA     Adjusted Net Loss  
    Net loss per U.S. GAAP $ (48,606 )   $ (48,606 )   $ (50,290 )   $ (50,290 )
    Reconciling items –                      
    Provision for (benefit from) income taxes   230       —       (338 )     —  
    Interest expense, net   319       —       253       —  
    Amortization of debt discount and issue costs in interest expense   —       296       —       709  
    Depreciation expense   1,136       —       833       —  
    Amortization of intangibles   535       535       542       542  
    Stock-based compensation   5,412       5,412       8,295       8,295  
    Gain from disposal of investment in unconsolidated subsidiary(a)   (8,807 )     (8,807 )     (1,319 )     (1,319 )
    Loss from change in fair value of warrant liability(b)   4,322       4,322       —       —  
    CEO transition(c)   1,423       1,423       —       —  
    Non-routine legal fees(d)   66       66       214       214  
    Reverse stock split(e)   212       212       —       —  
    Severance costs(f)   638       638       4,422       4,422  
    Other costs(g)   —       —       3,241       3,241  
    Adjusted Non-GAAP amounts $ (43,120 )   $ (44,509 )   $ (34,147 )   $ (34,186 )
                           
    Adjusted Non-GAAP net loss per share (Adjusted EPS):                      
    Basic and diluted(h) N/A     $ (3.51 )   N/A     $ (2.96 )
                           
    Weighted-average common shares outstanding:                      
    Basic and diluted(h) N/A       12,675,923     N/A       11,554,615  
    (a) We exclude the gain from collections of contingent contractual amounts arising from the sale in 2021 of our investment in an unconsolidated subsidiary as these amounts are not considered part of our normal ongoing operations.
    (b) We exclude non-cash changes in the fair value of our outstanding warrants as we do not consider such changes to impact or reflect changes in our core operating performance.
    (c) We incurred one-time incremental recruitment fees in connection with hiring a new CEO in August 2024. In addition, we agreed to upfront and incremental sign-on bonuses (collectively, the “sign-on bonuses”), a portion of which was paid to our CEO in 2024, with clawback provisions during 2025 and 2026, and a portion of which will be paid in 2025 and 2026, all contingent upon continued employment as of the payment date. These sign-on bonuses will be expensed each period through October 1, 2026, to reflect the required service periods. We do not view these sign-on bonuses as being part of the normal on-going compensation arrangements for our CEO.
    (d) Non-routine legal fees represent legal fees and other costs incurred for specific matters that were not ordinary or routine to the operations of the business.
    (e) We incurred incremental legal and professional fees to implement a reverse stock split that was consummated effective November 29, 2024. We do not consider these fees to be part of our normal ongoing operations.
    (f) Severance costs were incurred during 2024 and 2023, due to restructuring changes involuntarily impacting a number of employees each period, to adjust our operations to reflect current market and activity levels and to take advantage of process efficiencies gained.
    (g) Other costs in 2023 included the write-off of remaining prepaid costs resulting from termination of our consulting agreement with a related party.
    (h) Prior year shares and amounts, as applicable, have been revised to reflect the 1-for-10 reverse stock split, effective November 29, 2024.

    The MIL Network –

  • MIL-OSI Africa: African Rare Earth Projects Advance Amid Rising Global Demand

    Source: Africa Press Organisation – English (2) – Report:

    CAPE TOWN, South Africa, March 31, 2025/APO Group/ —

    The global demand for rare earth elements (apo-opa.co/3FI1pbZ) is projected to increase four-fold by 2030, driven by the energy transition and increasing investments in industrialization. African nations rich in rare earth minerals are accelerating exploration and production efforts to capitalize on this growth. With up to eight rare earth projects set for commissioning across the continent by 2029 – boosting Africa’s share of the global supply chain to 10% – the upcoming African Mining Week will spotlight opportunities across the rare earth value chain.

    Africa’s rare earth sector remains largely untapped, thereby attracting the interest of global project developers eager to unlock its full potential. South African asset manager Novare, for example, signed a R1.8 billion agreement (apo-opa.co/3E9EG8f) in February 2025 with American firm ReElement Technologies to develop a rare earth refining and battery manufacturing facility. ReElement will contribute its refining technology while Novare will provide funding for the value addition initiative, with construction expected to begin in the second half of 2025.

    In Namibia, the Japan Organization for Metals and Energy Security and Namibia Critical Metals (apo-opa.co/427nfNI) completed a production pilot for the Lofdal Project, one of only two xenotime-type heavy rare earth deposits currently under development worldwide. Meanwhile, in Angola, Pensana (apo-opa.co/43A3nW0) secured an $80 million loan from Absa Bank Limited in January 2025 to expedite the rollout of the Longonjo Project, which is expected to supply 5% of the world’s magnet metal rare earths demand – essential for the development of wind turbines and electric vehicles.

    Major investors are also making bold moves in Africa’s rare earth sector. Billionaires Jeff Bezos and Bill Gates (apo-opa.co/3FJsOdC) have injected $537 million into exploration and mine development through mining startup KoBold Metals, further accelerating Africa’s rare earth ambitions. The funding will be directed toward rare earth mining ventures. Additionally, recognizing the strategic value of rare earths, multinational financial institution the African Development Bank proposed the development of the African Units of Account (AUA) (apo-opa.co/3FOTDxe) – a new currency backed by Africa’s critical mineral reserves, including rare earth elements. The initiative would help stabilize regional currency markets and attract more international investment in green energy projects, amidst the growing demand of critical minerals globally and Africa’s vast reserves.

    The year 2025 continues to mark significant milestones in the growth of Africa’s rare earth sector, with the advancement of key projects (apo-opa.co/43uodGd) such as Phalaborwa and Steenkampskraal (South Africa), Makuutu (Angola), Ngualla (Tanzania) and Songwe (Malawi). Amid these developments, African Mining Week serves as a strategic platform for African regulators, industry stakeholders and global investors to engage in deal signings and forge partnerships, further solidifying Africa’s role in the global rare earth supply chain.

    MIL OSI Africa –

  • MIL-OSI USA: Spectacular waterfalls are an often-hidden gem of Yellowstone National Park

    Source: US Geological Survey

    Yellowstone Caldera Chronicles is a weekly column written by scientists and collaborators of the Yellowstone Volcano Observatory. This week’s contribution is from Shaul Hurwitz, research hydrologist with the U.S. Geological Survey.

    “After gathering a sufficient supply of water, they commence wearing their channels down into the volcanic rocks, which continue to grow deeper as they descend. Each one has its water-fall, which would fill an artist with enthusiasm.” So wrote Ferdinand V. Hayden, who explored Yellowstone starting in 1871 (Hayden report of 1872, p. 75). 

    Yellowstone National Park abounds in waterfalls. But how do they form, and why are there so many in the Yellowstone region?

    Schematic illustration of waterfall formation in which a hard rock that is more resistant to erosion is atop a softer rock that is less resistant to erosion. Source: Wikimedia (https://commons.wikimedia.org/wiki/File:WaterfallCreationDiagram.svg).

    Although there are several definitions for a waterfall, a common one is “a very steep commonly vertical fall of some magnitude in a river course”. Various clas­sifications of waterfalls were developed based on their origin and characteris­tics, such as height and rock type. The most common model to explain waterfall formation suggests that they form where rock units with different hardness meet laterally or vertically. If a stream flows over harder rocks that are more resistant to erosion than the rocks immediately downstream, a ledge or bench will form across the streambed because the softer and less resistant rocks are worn away faster. As the ledge becomes higher, the softer downstream rocks will erode faster. This undercutting of the less-resistant rock causes the overhanging rock to shear off, and typically a plunge pool at the base of a waterfall is created where the water impacts.

    The highest waterfall in the world is Angel Falls in Venezuela (3,212 feet, or 979 meters), and in the United States it is Oloʻupena Falls on the Island of Molokai in Hawaii (2,953 feet, or 900 meters). There are 52 sites In UNESCO’s World Heritage List with waterfalls, of which three are in the United States (in Yellowstone, Grand Canyon, and Yosemite National Parks). A USGS dataset and a US Fish and Wildlife Service waterfall database contain information about waterfalls and rapids for the continental United States.

    Photo of Fairy Falls in the Lower Geyser Basin, near Grand Prismatic Spring. Yellowstone National Park photo by Jacob W. Frank, October 28, 2018.

    The rivers flowing in Yellowstone National Park are fed by large volumes of water from snow and rain falling over the Yellowstone Plateau. Many stretches of these rivers are nearly flat bottomed, but in some sections the rivers contain narrow valleys where deep gorges were carved. Some waterfalls in Yellowstone formed where rocks with differences in hardness meet in these deep gorges, while others formed at the edges of thick rhyolite lava flows. There are approximately 350 waterfalls of more than 15 feet in the park. Many of these can be viewed by hiking a short distance, for example, Gibbon Falls near Madison Junction, Tower Falls near Tower Junction, Mystic Falls near Biscuit Basin, and Fairy Falls near Grand Prismatic Spring(the latter named by Colonel Barlow, who explored the Yellowstone region 1871 and 1872, “from the graceful beauty with which the little stream dropped down a clear descent of 250 feet” (Hayden report of 1872, p.112).

    There are two prominent waterfalls in the Grand Canyon of the Yellowstone: the Upper (33 meters, or 109 feet) and the Lower Falls (94 meters, or 308 feet). The Lower Falls is the tallest waterfall in the park and is significantly taller that the total height of Niagara Falls (51 meters, or 167 feet for the Canadian and American Falls). The Upper and Lower Falls can be viewed from several locations along the rim of the Grand Canyon of the Yellowstone.

    Like many prominent waterfalls, those in the Grand Canyon of the Yellowstone exist because rock layers change laterally from soft to hard. At the end of the last glacial period, about 14,000 years ago, ice dams at the mouth of Yellowstone Lake failed, and the large volumes of water that were released caused massive floods downstream. These floods led to erosion of the present-day canyon, which is a classic, narrow, V-shaped valley, indicative of erosion by rivers rather than by glaciation (which tends to form broad, U-shaped valleys). The canyon is approximately 24 miles (39 kilometers) long, and its depth is between 800 and 1,200 feet (240 and 370 meters). The thick rhyolite flows at the base of the canyon were hydrothermally altered and weakened by hot groundwater. After the canyon formed, the weakened rhyolite was less resistant to flow of the Yellowstone River downstream from the falls.

    Photo of Colonnade Falls on the Bechler River in southwest Yellowstone National Park, also called the “Cascade corner”. Yellowstone National Park photo by Diane Renkin, September 15, 2012.

    A large number of impressive waterfalls are in Yellowstone’s southwest corner, which is unofficially named the “Cascade Corner” as a result. Snow accumulation in this area is the highest across the Yellowstone Plateau, and most of the rivers and creeks mainly drain the Pitchstone Plateau, the site of the last volcanic eruption in Yellowstone. To see some of these remote waterfalls requires long hikes. In the Bechler River drainage, these include Colonnade (67 feet, or 20 meters), Albright (260 feet, or 79 m), and Ouzel (230 feet, or 70 meters) Falls. Bechler River was named after Gustavus Bechler, a surveyor and cartographer with the 1872 expedition led by Ferdinand Hayden, and Albright Falls was named after Horace Albright, an assistant and acting director of the National Park Service and later superintendent of Yellowstone National Park. Some other notable waterfalls in the “Cascade Corner” include Silver Scarf (250 feet, or 76 meters) and Dunanda (150 feet, or 46 meters) Falls along Boundary Creek, and Union Falls (250 feet, or 76 m) on Mountain Ash Creek.

    When planning a visit to explore Yellowstone National Park’s many wonders, consider taking the time to view some of its many waterfalls. Perhaps you might be able to identify different rocks on either side of the waterfall, or perhaps see the edge of a thick rhyolite lava flow. If you are adventurous and ready to visit the park’s backcountry (having obtained the necessary permit, of course), you will be rewarded by many waterfalls with significantly fewer people. In the “Cascade Corner,” where the annual precipitation is more than 50 inches (about 130 centimeters), you will be challenged by many stream crossings and a pesky mosquito population in the early summer months. Most hikes in that area start at the Bechler ranger station trailhead.

    Additional Reading

    • The Guide to Yellowstone Waterfalls and Their Discovery (2000) by Paul Rubinstein, Lee H. Whittlesey, Mike Stevens 
    • Waterfalls of Yellowstone National Park by Charles W. Maynard (1996)
    • Ribbons of Water: The Waterfalls and Cascades of Yellowstone National Park (1984) by John Barber
    • Goudie, A.S., 2020. Waterfalls: forms, distribution, processes and rates of recession. Quaestiones Geographicae, 39, 59-77.
    • Final Sculpting of the Landscape based on The geologic story of Yellowstone National park by William R. Keefer, U.S. Geological Survey Bulletin 1347, 1971
    • Wikipedia sites:  List of waterfalls in Yellowstone National Park, Yellowstone River Falls, Grand Canyon of the Yellowstone, and List of world’s waterfalls by height

    MIL OSI USA News –

  • MIL-OSI: Westport Announces Agreement to Divest the Light-Duty Segment for $73.1 Million

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, March 31, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport” or the “Company”) (TSX:WPRT / Nasdaq:WPRT), has entered into a binding agreement (the “Agreement”) to sell its interest in Westport Fuel Systems Italia S.r.l., which includes the Light-Duty segment, including the light-duty OEM, delayed OEM, and independent aftermarket businesses, to a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. (“Heliaca Investments”), a Netherlands based investment firm supported by Ramphastos Investments Management B.V. a prominent Dutch venture capital and private equity firm (the “Transaction”). The Transaction provides for a base purchase price of $73.1 million (€67.7 million), subject to certain adjustments, and potential earnouts of up to an estimated $6.5 million (€6.0 million) if certain conditions are achieved, in accordance with the terms of the Agreement.

    Moving forward, Westport intends to concentrate fully on providing affordable solutions for hard-to-decarbonize mobility and industrial applications, centered around the unique opportunities created by the HPDI technology and our Cespira joint venture. The Transaction also strengthens Westport’s balance sheet and enables Westport to consider strategic acquisition opportunities consistent with the above strategic focus and extend its runway to fund near-term growth.

    “This Transaction marks a significant milestone in our evolution as an alternative fuel systems enterprise. By returning to our roots and focusing on our core strengths, providing solutions in hard-to-decarbonize mobility and industrial applications, we are positioning Westport for sustainable growth and enhanced operational efficiency. The Light-Duty segment has been an important part of our history, and we are confident that Heliaca Investments is the right partner to continue its development. This Transaction allows us to streamline our operations, sharpen our focus on innovation, and create long-term value for our stakeholders. We are excited about the opportunities ahead and look forward to building on our momentum,” said Dan Sceli, Chief Executive Officer of Westport Fuel Systems.

    Under the terms of the Agreement, Heliaca Investments through its subsidiary will acquire Westport’s Light-Duty segment, including its related assets and customer contracts. The Transaction is subject to shareholder approval and other customary closing conditions and is expected to close in late Q2 of 2025.

    The proceeds from the proposed Transaction are expected to enable Westport to significantly improve its financial stability, while also supporting key growth initiatives focused on providing solutions for hard-to-decarbonize mobility and industrial applications. Following closing, Westport intends to align its cost structure to be more reflective of a smaller, more efficient organization, while also seeking further opportunities for efficiency gains.

    Strategic Transformation

    The proposed divestiture is a pivotal step in refocusing Westport on its competitive strengths. Westport remains committed to providing affordable, alternative fuel solutions for the heavy-duty truck, off-road, and industrial markets. Westport believes that hydrogen will play a role in decarbonizing mobility applications long-term. However, Westport’s products are timeline-agnostic, allowing the Company to leverage its High-Pressure Controls and Systems segment and its stake in Cespira, which both have solutions available now, to address decarbonization with net zero and low carbon fuels while also providing affordable solutions utilizing zero carbon hydrogen in the future. Westport’s remaining assets, when combined, create the potential for fuel agnostic high-pressure storage solutions, complementing HPDI and Cespira’s growth aspirations.

    As the hydrogen ecosystem evolves, Westport views the natural gas market, including LNG, CNG and RNG as our foundation, with strong economics in many geographies and diverse growth opportunities. The Company’s GFI products are already industry leading on a global scale and backed by intellectual property rights that are expected to strengthen our already significant competitive advantage in high-pressure fuel solutions.

    Moreover, the Company will consider strategic merger and acquisition opportunities that align with the reimagined strategic focus.

    Creating Focus

    The resurgence of natural gas and renewable natural gas globally provides a market opportunity for Westport. In particular, while HPDI technology is well positioned and established in Europe, the North American market presents many growth opportunities. North America is again embracing natural gas and renewable natural gas as an important part of the solution to reduce the cost and the carbon footprint of heavy-duty long-haul trucking. Natural gas infrastructure is abundant and RNG production is growing.

    As we wait for hydrogen adoption, both Cespira and our High-Pressure Controls & Systems segment have products and technologies enabling the use of lower-carbon fuels today. These same products are equally viable in the future as hydrogen adoption ramps up. In the near-term, our High-Pressure Controls and Systems business has expertise in high-pressure components, providing the capability to rapidly develop CNG high pressure solutions for heavy-duty, off-road and industrial applications, providing effective solutions for decarbonization by utilizing alternative fuels today while advancing zero-emissions hydrogen solutions for the future. Additionally, the Company holds extensive intellectual property assets related to high-pressure fuels for HPDI engines. These initiatives are being designed to strengthen Westport’s competitive position and reinforce its role in advancing low-carbon fuel solutions for hard-to-decarbonize mobility applications.

    Advisors

    J.P. Morgan is acting as financial advisor to Westport and is providing a fairness opinion to the board of directors in connection with the Transaction. Bennett Jones LLP and Delfino Willkie are acting as legal advisors to Westport, and E&Y is acting as tax advisor to the Company.

    Gianni & Origoni, NautaDutilh, Wardyński & Partners and PwC are advising Heliaca Investments in connection with the Transaction.

    About Westport Fuel Systems

    At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements, including statements regarding the closing of, and timing for closing of, the Transaction, shareholder approval of the Transaction, the anticipated benefits of the Transaction, including potential earn-out payments, the Transaction alleviating liquidity concerns, the ability to strengthen our balance sheet and align our cost structure, the ability to capitalize on growth initiatives, including fund strategic acquisitions, the ability to transition to a smaller, more efficient organization and our expectations regarding the future success of our business, the adoption of hydrogen and the future growth and development of HPDI. Other forward-looking statements included in the release include those relating to Westport’s future strategic plans, business opportunities and use of the Transaction proceeds. These statements are neither promises nor guarantees but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activities, performance, or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties, and assumptions include those related to completion and satisfaction of all conditions to closing of the Transaction set out in the Agreement, governmental policies, regulation and approval, the achievement of the performance criteria required for the earn out described above, purchase price adjustments contained in the Agreement, the demand for high-pressure storage solutions and other products, as well as other risk factors and assumptions that may affect our actual results, performance, or achievements, as discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions, or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website referenced in this press release are not incorporated by reference herein.

    Investor Inquiries:

    Investor Relations
    T: +1 604-718-2046
    E: invest@wfsinc.com

    The MIL Network –

  • MIL-OSI: Westport Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, March 31, 2025 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (“Westport”) (TSX: WPRT / Nasdaq: WPRT) today reported financial results for the fourth quarter and year ended December 31, 2024, and provided an update on operations. All figures are in U.S. dollars unless otherwise stated.

    “The past year has been transformative for Westport as we sharpened our strategic focus, advanced our clean transportation technologies, and enhanced operational efficiencies. We have made significant strides in aligning our operations with our competitive strengths, improving margins, and reinforcing our commitment to delivering cost-effective solutions that drive decarbonization in the transportation sector. We have also transformed our culture to be one built on discipline and excellence, driving a high-performance mindset in everything we do.

    The launch of Cespira, our joint venture with Volvo Group, was a key milestone for us in 2024. Cespira is committed to accelerating the commercialization of HPDI™ technology with carbon-neutral fuels like hydrogen and renewable natural gas. This partnership underscores the industry’s recognition of HPDI as a leading solution to enable affordable, sustainable heavy transport.

    Additionally, we are taking bold steps to streamline our operations and strengthen our financial footing, allowing us to focus on areas with the highest growth potential. A prime example of this strategic realignment is our recently announced proposed divestiture of the Light-Duty business. This decision is expected to enable us to concentrate fully on providing affordable solutions for hard to decarbonize mobility applications like long haul and heavy-duty trucking that can take advantage of the unique, practical and affordable HPDI technology and our world class high-pressure components and systems technologies and scalable alternative fuel solutions, ensuring that we remain at the forefront of emissions-reducing innovations that are cost effective.

    Looking ahead, we are focused on scaling our alternative fuel-based solutions, including advancements in CNG, RNG, and hydrogen systems, while navigating a rapidly evolving transportation landscape. Hydrogen remains a critical component of the future but, in the meantime, we are delivering practical, commercially viable low-carbon solutions today such as natural gas and renewable natural gas solutions which, in some cases, can represent a lower total cost of ownership than incumbent technologies. Driven by these environmental and economic considerations we are seeing a global resurgence of interest in the heavy-duty transport sector towards utilizing natural gas as an alternative to diesel. While we will continue to invest in technology, we are positioned to take advantage of markets that are embracing products enabled by our years of investment in innovation as the world pivots to more practical and cost-effective solutions to decarbonize.  

    We are committed to providing sustainable, high-performance solutions that help our customers achieve their commercial and environmental goals, now and for years to come.”

    Dan Sceli, Chief Executive Officer

    2024 Highlights

    • Revenue was $302.3 million for 2024 and $75.1 million for the fourth quarter. Full year results were primarily driven by the transition of the Heavy-Duty OEM business into Cespira, partially offset by an increase in revenue in our Light-Duty segment. Cespira earned $22.8 million for the three months ended December 31, 2024 and $43.1 million for the period from June 3, 2024 through to December 31, 2024.
    • Net loss for the year ended December 31, 2024 was $21.8 million, or $1.27 loss per share, compared to net loss of $49.7 million for the prior year. Net loss for the fourth quarter in 2024 was $10.1 million, or $0.59 loss per share, compared to net loss of $13.9 million, or $0.81 loss per share, for the same period in 2023. For the year, the net positive change was primarily a result of improvements in gross margin, a $15.2 million gain on deconsolidation of the HPDI business in the formation of the joint venture with Volvo Group on June 3, 2024, reductions in operating expenditures and depreciation and amortization expense due to continuation of the HPDI business in Cespira, partially offset by higher income tax expense and foreign exchange losses in the year.
    • Adjusted EBITDA1 loss of $11.2 million, compared to a loss of $21.5 million in the prior year. Adjusted EBITDA for the fourth quarter was a loss of $1.8 million.
    • Cash and cash equivalents were $37.6 million for the year ended December 31, 2024. Cash provided by operating activities during the year was $7.2 million.
    • Announced the closing the HPDI joint venture, Cespira, with Volvo Group, working together to accelerate the commercialization and global adoption of the HPDI™ fuel system technology for long-haul and off-road applications.

    1 Adjusted earnings before interest, taxes and depreciation is a non-GAAP measure. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES in Westport’s Management Discussion and Analysis for the reconciliation.

    Consolidated Results            
    ($ in millions, except per share amounts)     Over / (Under)
    %    		     Over / (Under)
    %
      4Q24 4Q23 FY24 FY23
    Revenue $75.1 $87.2 (14)% $302.3 $331.8   (9)%  
    Gross Profit(2) 14.3 8.0 79% 57.6 48.9   18%  
    Gross Margin(2) 19% 9% — 19% 15%   —  
    Income (loss) from Investments Accounted for by the Equity Method(1) (2.0) 0.1 (2,100)% (5.4) 0.8   (775)%  
    Net Loss (10.1) (13.9) 27% (21.8) (49.7)   56%  
    Net Loss per Share – Basic (0.59) (0.81) 27% (1.27) (2.90)   56%  
    Net Loss per Share – Diluted (0.59) (0.81) 27% (1.27) (2.90)   56%  
    EBITDA (2) (6.1) (10.9) 44% (6.6) (35.9)   82%  
    Adjusted EBITDA (2) (1.8) (10.0) 82% (11.2) (21.5)   48%  

    (1)This includes income or loss primarily from our investments in Cespira and Minda Westport Technologies Limited
    (2)Gross margins, EBITDA and Adjusted EBITDA are non-GAAP measures. Please refer to GAAP and NON-GAAP FINANCIAL MEASURES for the reconciliation to equivalent GAAP measures and limitations on the use of such measures.

    Segment Information

    Light-Duty Segment

    Revenue for the three months and year ended December 31, 2024 was $68.0 million and $262.2 million, respectively, compared with $63.4 million and $263.6 million for the three months and year ended December 31, 2023.

    Light-Duty revenue increased by $4.6 million for the three months ended December 31, 2024 as compared to the prior year. This was primarily driven by a significant increase in sales of LPG fuel system solutions to a global Original Equipment Manufacturer (“OEM”) for their Euro 6 vehicle applications in our light-duty OEM business and an increase in delayed OEM business, partially offset by lower revenues in other business lines.

    Light-Duty revenue decreased by $1.4 million for the year ended December 31, 2024 compared to the prior year. This was primarily driven by a decrease in sales in our delayed OEM business in the first half of 2024, decrease in sales to customers in developing markets, and our fuel storage business. This was partially offset by the aforementioned increase in sales of LPG fuel system solutions in our light-duty OEM business.

    Gross profit increased by $2.0 million to $14.0 million, or 21% of revenue for the three months ended December 31, 2024, as compared to $12.0 million, or 19% of revenue, for the same prior year period. This was primarily driven by a change in sales mix with an increase in sales to European customers and a reduction in sales to developing regions along with an increase in sales volumes.

    Gross profit for the year ended December 31, 2024 increased by $6.3 million to $55.4 million, or 21% of revenue, compared to $49.1 million, or 19% of revenue, for the prior year. This was primarily driven by a change in sales mix with an increase in sales to European customers and a reduction in sales to developing regions. The segment’s manufacturing operations continues to implement operational improvement initiatives lowering its manufacturing overhead costs in the year. For the year ended December 31, 2024, Light-Duty recorded inventory write-downs of $2.1 million related to our restructuring activities in India for $0.9 million and $0.5 million related to components for markets that we have exited, and the remainder due to our periodic analysis of excess and obsolete inventory.

    Westport began supplying its Euro 6 LPG fuel system to its global OEM customer in early 2024. This production supply agreement has been instrumental in improving revenue and delivering higher margins, which more than offset the decline in revenue as a result of a key delayed OEM customer continuing to work through their inventory. Production for the Euro 7 LPG fuel system for the same global OEM customer is anticipated to begin mid-to-late 2025.

    High-Pressure Controls & Systems Segment

    Revenue for the three months and year ended December 31, 2024 was $1.4 million and $8.8 million, respectively, compared with $2.5 million and $12.0 million for the three months and year ended December 31, 2023. Revenue for the three months ended December 31, 2024 decreased by $1.1 million compared to the prior year period. Revenue for the year ended December 31, 2024 decreased $3.2 million compared to the prior year.

    The decrease in revenue for the three months and year ended December 31, 2024 compared to the prior year periods continues to be primarily driven by the general slowdown in hydrogen infrastructure development, leading to a slower adoption of automotive and industrial applications powered by hydrogen.

    Gross profit for the three months ended December 31, 2024 decreased by $0.4 million to nominal, or 0% of revenue, compared to $0.4 million, or 16% of revenue, for the same prior year period. This was primarily driven by lower sales volumes, increasing the per unit manufacturing costs in the quarter.

    Gross profit for the year ended December 31, 2024 decreased by $1.3 million to $1.5 million, or 17% of revenue, compared to $2.8 million, or 23% of revenue, for the prior year. This was primarily driven by decrease in sales volume for the year. The segment recorded $0.8 million in inventory write-downs in the year due to slow-moving inventory.

    Heavy-Duty OEM Segment

    Revenue for the three months and year ended December 31, 2024 includes revenue until the closing of the transaction to form Cespira, which occurred on June 3, 2024. Revenue for the three months and year ended December 31, 2024 was $5.7 million and $31.3 million, respectively, compared with $21.3 million and $56.2 million for the three months and year ended December 31, 2023.

    The decrease in revenue for the three months and year ended December 31, 2024 is a result of the continuation of the business in Cespira. Refer to the “Selected Cespira Financial Information” for more information on the performance of the business. Revenue earned in the three months ended December 31, 2024 reflects revenue earned from a transitional services agreement in place with Cespira that we expect to expire by the end of Q2 2026.

    Gross profit for the three months ended December 31, 2024 increased by $4.7 million to $0.3 million, or 5% of revenue, compared to negative $4.4 million or negative 21% of revenue, for the three months ended December 31, 2023. The Heavy-Duty OEM segment was impacted by a $4.5 million inventory write-down in the prior year period.

    Gross profit increased by $3.7 million to $0.7 million, or 2% of revenue, for the year ended December 31, 2024 compared to negative $3.0 million, or negative 5% of revenue, for the prior year. Heavy-Duty OEM recorded $0.4 million in inventory write-downs in the year. The segment was impacted by the aforementioned inventory write-down of $4.5 million in the prior year.

    Selected Cespira Financial Information

    We account for Cespira using the equity method of accounting. However, due to its significance to our long-term strategy and operating results, we disclose certain financial information from Cespira in notes 8 and 22 in our consolidated financial statements for the year ended December 31, 2024 and the period from June 3, 2024 to December 31, 2024.

    The following table sets forth a summary of the financial results of Cespira for the three months ended December 31, 2024 and the period between June 3, 2024 to December 31, 2024:

      (in millions of U.S. dollars)   Three months ended December 31,   Change   Year ended December 31,   Change
        2024   2023   $   %   2024   2023   $   %
    Revenue   $ 22.8     $ —     $ 22.8     — %   $ 43.1     $ —     $ 43.1     — %
    Gross profit     1.4       —       1.4     — %     0.5       —       0.5     — %
    Gross margin1     6 %     — %             1 %     — %        
    Operating loss     (4.8 )     —       (4.8 )   — %     (12.1 )     —       (12.1 )   — %
    Net loss attributable to the Company     (2.6 )     —       (2.6 )   — %     (6.7 )     —       (6.7 )   — %

    1Gross margin is non-GAAP financial measure. See the section ‘Non-GAAP Financial Measures’ for explanations and discussions of these non-GAAP financial measures or ratios.

    Cespira revenue was $22.8 million for the three months ended December 31, 2024. For the prior year period, the Heavy-Duty OEM segment, which included our HPDI business, earned $21.3 million. This was primarily driven by an increase in HPDI fuel systems sold in the period.

    Cespira gross profit was $1.4 million for the three months ended December 31, 2024. For the prior year period, the Heavy-Duty OEM segment had negative $4.4 million in gross profit primarily driven by the aforementioned $4.5 million inventory write-down in the prior year period.

    Cespira incurred operating losses of $4.8 million for the three months ended December 31, 2024. For the prior year quarter, the Heavy-Duty OEM had operating losses of $9.3 million. Aside from the aforementioned inventory write-down in the prior year period, the Heavy-Duty OEM had comparable operating losses compared to Cespira.

    As previously announced, Westport and Weichai are parties to a technology development and supply agreement which contains an obligation for Weichai to order, and Westport to supply, certain volumes of HPDI fuel system components prior to December 31, 2024. Significant orders for HPDI fuel system components against this agreement were not received prior to year-end. Westport and Cespira continue to collaborate with Weichai Power Co. Ltd (“Weichai Power”) on an HPDI fuel system equipped version of the Weichai Power engine platforms. The parties are currently discussing the next stages of this work and the obligations of each party going forward.

    Liquidity and Going Concern

    In addition, as disclosed in Westport Management Discussion & Analysis, for the year ended December 31, 2024, we continue to sustain operating losses and use cash to support our business activities. Cash provided by operating activities was $7.2 million for the year ended December 31, 2024 was primarily driven by reductions in working capital.

    As at December 31, 2024, we had cash and cash equivalents of $37.6 million and long-term debt of $33.7 million, of which $14.7 million was current. Based on our projected capital expenditures, debt servicing obligations and operating requirements under our current business plan, we are projecting that our cash and cash equivalents will not be sufficient to fund our operations through the next twelve months from the date of the issuance of this MD&A. These conditions raise substantial doubt about Westport’s ability continue as a going concern within one year after the date our December 31, 2024 Consolidated Financial Statements are issued.

    We plan to improve our liquidity position by selling certain subsidiaries in Europe and Argentina which comprise substantially all the assets and liabilities reported within the Light-Duty segment and continue our cost reduction initiatives. On March 30, 2025, we entered into a share purchase agreement (“SPA”) with a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. (“Heliaca Investments”), a Netherlands based investment firm supported by Ramphastos Investment Management B.V. a prominent Dutch venture capital and private equity firm, to sell all of the issued and outstanding shares of Westport Fuel Systems Italia S.r.l for a base purchase price of $73.1 million (€67.7 million), subject to certain adjustments and potential earnouts of up to an estimated $6.5 million (€6.0 million) if certain conditions are achieved, in accordance with the terms of the Share Purchase Agreement. If we are successful in closing the sale, we will receive sufficient cash to fund our operations for the next twelve months and alleviate the risk of substantial doubt identified. As of the date of issuance of our December 31, 2024 financial statements, we are seeking shareholder approval of the plan to complete the sale of these businesses to the buyer. As such, there can be no assurances that Westport will be successful in obtaining sufficient funding. Accordingly, we concluded under the accounting standards that these plans do not alleviate the substantial doubt about Westport’s ability to continue as a going concern.

    Divestment of the Light-Duty Business and 2025 Outlook

    Westport recently announced the proposed divestment of its Light-Duty business, which includes the light-duty OEM, delayed OEM, and independent aftermarket businesses (the “Transaction”). The Transaction is designed to focus the Company’s strategy and streamline its operations allowing Westport to direct its energy on solution to address hard to decarbonize sectors like long-haul, heavy-duty trucking and off-road applications that can take advantage of Cespira and our High-Pressure Controls & Systems technology – where Westport sees the largest opportunities to grow and where the Company has a unique and differentiated offering generating interest with customers as the world transitions to a more practical and easier to adopt approach to decarbonization.

    Highlights of the Transaction include:

    • Provides immediate up front proceeds to alleviate liquidity concerns, strengthening the balance sheet and funds near-term growth in Cespira and the High-Pressure Controls & Systems business;
    • Brings forward more cash today than the Light-Duty business was projected to earn over 5-years on an undiscounted cash basis; and
    • Enables management to focus exclusively on the higher growth HPDI and high-pressure segments.

    In light of the evolving market and regulatory environment, over the long term, the Light-Duty business’ ability to grow LPG / CNG sales in developed markets is expected to continue facing increased competition from pure electrification or petrol – electrification hybrids.

    The base purchase price of the Transaction is $73.1 million (€67.7 million), subject to certain adjustments and potential earnouts of up to an additional $6.5 million (€6.0 million) if certain conditions are achieved, in accordance with the terms of the Share Purchase Agreement. The purchaser is a wholly-owned investment vehicle of Heliaca Investments Coöperatief U.A. (“Heliaca Investments”), a Netherlands based investment firm supported by Ramphastos Investment Management B.V. a prominent Dutch venture capital and private equity firm.

    Net proceeds from the transaction are to be used to bolster the balance sheet, fund organic growth opportunities through Cespira and High-Pressure Controls & Systems over the near term as well as opportunistic bolt on acquisitions. The Transaction ultimately eliminates future restructuring costs required by the Italian operations in the light-duty business.

    Westport is shifting to a smaller, more focused organization, that is positioned to provide solutions to decarbonize challenging segments of the mobility and industrial markets.​ Westport has 30 years of experience delivering component solutions and developing HPDI fuel technology​. We are focused on scaling our alternative fuel-based solutions, including advancements in CNG, RNG, and hydrogen systems, while navigating a rapidly evolving transportation landscape.

    The Company anticipates that the closing of the transaction will occur late in Q2 2025, subject to receiving shareholder approval.

    Conference call

    Westport has scheduled a conference call for Monday, March 31, 2025, at 10:30 am Pacific Time (1:30 pm Eastern Time) to discuss these results. To access the conference call please register at https://register.vevent.com/register/BI1ba7402b85a5491292e48354a2e80b90. 

    The live webcast of the conference call can be accessed through the Westport website at https://investors.wfsinc.com/. 

    Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

    The webcast will be archived on Westport’s website at https://investors.wfsinc.com. 

    Financial Statements and Management’s Discussion and Analysis

    To view Westport full financials for the fourth quarter and year ended December 31, 2024, please visit https://investors.wfsinc.com/financials/. 

    About Westport Fuel Systems

    At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in approximately 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit www.wfsinc.com.

    Cautionary Note Regarding Forward Looking Statements
    This press release contains forward-looking statements, including statements regarding future strategic initiatives and future growth, future of our development programs (including those relating to HPDI and Hydrogen) including testing to the HPDI fuel system, scaling our alternative fuel-based solutions, our expectations for 2025 and beyond, including the demand for our products, the future success of our business and technology strategies, shareholder approval of the Transaction, our ability to successfully close the Transaction and realize the benefits therefrom, including, potential earn-out payments, the Transaction alleviating liquidity concerns, our focus on providing affordable solutions to decarbonize long haul and heavy-duty trucking, our ability to bolster our balance sheet, fund organic growth as well as opportunistic bolt on acquisitions, a shift to operating as a smaller, more efficient organization. These statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties and are based on both the views of management and assumptions that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activities, performance or achievements expressed in or implied by these forward-looking statements. These risks, uncertainties and assumptions include those related to our revenue growth, operating results, industry and products, changes in business strategy, shifts in market demand, the general economy including impacts due to inflation, the effects of competition and pricing pressures, conditions of and access to the capital and debt markets, solvency, governmental policies, trade restrictions or other changes to international trade agreements, sanctions and regulation including the imposition of tariffs, technology innovations, fluctuations in foreign exchange rates, operating expenses, continued reduction in expenses, ability to successfully commercialize new products, the performance of our joint ventures, the availability and price of natural gas, new environmental regulations, the acceptance of and shift to natural gas and hydrogen vehicles, the relaxation or waiver of fuel emission standards, the inability of fleets to access capital or government funding to purchase natural gas vehicles, the development of competing technologies, our ability to adequately develop and deploy our technology, the actions and determinations of our joint venture and development partners, the effects and duration of the Russia-Ukraine conflict, supply chain disruptions as well as other risk factors and assumptions that may affect our actual results, performance or achievements or financial position discussed in our most recent Annual Information Form and other filings with securities regulators. Readers should not place undue reliance on any such forward-looking statements, which speak only as of the date they were made. We disclaim any obligation to publicly update or revise such statements to reflect any change in our expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in these forward-looking statements except as required by National Instrument 51-102. The contents of any website, RSS feed or twitter account referenced in this press release are not incorporated by reference herein.

    Inquiries:
    Investor Relations
    T: +1 604-718-2046
    invest@wfsinc.com

    GAAP and Non-GAAP Financial Measures

    Our financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP“). These U.S. GAAP financial statements include non-cash charges and other charges and benefits that may be unusual or infrequent in nature or that we believe may make comparisons to our prior or future performance difficult. In addition to conventional measures prepared in accordance with U.S. GAAP, Westport and certain investors use EBITDA and Adjusted EBITDA as an indicator of our ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations and fund capital expenditures. Management also uses these non-GAAP measures in its review and evaluation of the financial performance of Westport. EBITDA is also frequently used by investors and analysts for valuation purposes whereby EBITDA is multiplied by a factor or “EBITDA multiple” that is based on an observed or inferred relationship between EBITDA and market values to determine the approximate total enterprise value of a company. We believe that these non-GAAP financial measures also provide additional insight to investors and securities analysts as supplemental information to our U.S. GAAP results and as a basis to compare our financial performance period-over-period and to compare our financial performance with that of other companies. We believe that these non-GAAP financial measures facilitate comparisons of our core operating results from period to period and to other companies by, in the case of EBITDA, removing the effects of our capital structure (net interest income on cash deposits, interest expense on outstanding debt and debt facilities), asset base (depreciation and amortization) and tax consequences. Adjusted EBITDA provides this same indicator of Westports’ EBITDA from continuing operations and removing such effects of our capital structure, asset base and tax consequences, but additionally excludes any unrealized foreign exchange gains or losses, stock-based compensation charges and other one-time impairments and costs which are not expected to be repeated in order to provide greater insight into the cash flow being produced from our operating business, without the influence of extraneous events.

    Segment Information

    EBITDA and Adjusted EBITDA are intended to provide additional information to investors and analysts and do not have any standardized definition under U.S. GAAP, and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with U.S. GAAP. EBITDA and Adjusted EBITDA exclude the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances, and therefore are not necessarily indicative of operating profit or cash flow from operations as determined under U.S. GAAP. Other companies may calculate EBITDA and Adjusted EBITDA differently.

    Segment earnings or losses before income taxes, interest, depreciation, and amortization (“Segment EBITDA”) is the measure of segment profitability used by the Company. The accounting policies of our reportable segments are the same as those applied in our consolidated financial statements. Management prepared the financial results of the Company’s reportable segments on basis that is consistent with the manner in which Management internally disaggregates financial information to assist in making internal operating decisions. Certain common costs and expenses, primarily corporate functions, among segments differently than we would for stand-alone financial information prepared in accordance with GAAP. These include certain costs and expenses of shared services, such as IT, human resources, legal, finance and supply chain management. Segment EBITDA is not defined under US GAAP and may not be comparable to similarly titled measures used by other companies and should not be considered a substitute for net earnings or other results reported in accordance with GAAP. Reconciliations of reportable segment information to consolidated statement of operations can be found in section “NON-GAAP FINANCIAL MEASURES & RECONCILIATIONS” within this press release.

      Year ended December 31, 2024
      Light-Duty   High-Pressure Controls & Systems   Heavy-Duty OEM   Cespira   Total Segment
    Revenue $ 262.2   $ 8.8     $ 31.3     $ 43.1     $ 345.4  
    Cost of revenue   206.8     7.3       30.6       42.6       287.3  
    Gross profit   55.4     1.5       0.7       0.5       58.1  
    Operating expenses:
    Research & development   13.0     4.4       4.2       4.7       26.3  
    General & administrative   19.2     1.0       3.1       5.6       28.9  
    Sales & marketing   9.9     0.7       0.9       1.0       12.5  
    Depreciation & amortization   2.6     0.3       0.1       1.7       4.7  
    Equity income   1.3     —       —       —       1.3  
    Add back: Depreciation & amortization1   6.4     0.5       1.4       3.8       12.1  
    Segment EBITDA $ 18.4   $ (4.4 )   $ (6.2 )   $ (8.7 )   $ (0.9 )
      Year ended December 31, 2023
      Light-Duty   High-Pressure Controls & Systems   Heavy-Duty OEM   Total Segment
    Revenue $ 263.6   $ 12.0     $ 56.2     $ 331.8  
    Cost of revenue   214.5     9.2       59.2       282.9  
    Gross profit   49.1     2.8       (3.0 )     48.9  
    Operating expenses:
    Research & development   13.1     3.6       9.3       26.0  
    General & administrative   21.6     1.3       6.4       29.4  
    Sales & marketing   10.6     0.7       2.9       14.1  
    Depreciation & amortization   3.2     0.2       0.4       3.8  
    Equity income   0.8     —       —       0.8  
    Add back: Depreciation & amortization1   6.7     0.4       4.9       11.9  
    Segment EBITDA $ 8.1   $ (2.6 )   $ (17.1 )   $ (11.6 )


    NON-GAAP FINANCIAL MEASURES RECONCILIATION

    Gross Profit   Years ended December 31,
    (expressed in millions of U.S. dollars)   2024   2023
    Revenue   $ 302.3   $ 331.8
    Less: Cost of revenue   $ 244.7   $ 282.9
    Gross Profit   $ 57.6   $ 48.9
    Gross Margin as a percentage of Revenue   Years ended December 31,
    (expressed in millions of U.S. dollars)     2024       2023  
    Revenue   $ 302.3     $ 331.8  
    Gross Margin   $ 57.6     $ 48.9  
    Gross Margin as a percentage of Revenue     19 %     15 %
      Year ended December 31, 2024
      Total Segment   Less: Cespira   Add: Corporate & unallocated   Total Consolidated
    Revenue $ 345.4   $ 43.1   $ —     $ 302.3  
    Cost of revenue   287.3     42.6     —       244.7  
    Gross profit   58.1     0.5     —       57.6  
    Operating expenses:
    Research & development   26.3     4.7     —       21.6  
    General & administrative   28.9     5.6     14.4       37.7  
    Sales & marketing   12.5     1.0     1.2       12.7  
    Depreciation & amortization   4.7     1.7     0.4       3.4  
    Equity income (loss)   1.3     —     (6.7 )     (5.4 )
      Year ended December 31, 2023
      Total Segment   Add: Corporate & unallocated   Total Consolidated
    Revenue $ 331.8   $ —   $ 331.8
    Cost of revenue   282.9     —     282.9
    Gross profit   48.9     —     48.9
    Operating expenses:
    Research & development   26.0     —     26.0
    General & administrative   29.4     14.8     44.2
    Sales & marketing   14.1     2.2     16.3
    Depreciation & amortization   3.8     0.5     4.3
    Equity income   0.8     —     0.8
    Reconciliation of Segment EBITDA to Loss before income taxes   Years ended December 31,
        2024       2023  
    Total Segment EBITDA   $ (0.9 )   $ (11.6 )
    Adjustments:
    Depreciation and amortization     8.7       12.5  
    Cespira’s Segment EBITDA     (8.7 )     —  
    Cespira’s equity loss     6.7       —  
    Corporate and unallocated operating expenses     15.6       17.0  
    Foreign exchange loss     6.2       4.0  
    Loss on sale of assets     0.7       —  
    Gain on deconsolidation     (15.2 )     —  
    Loss on sale of investment     0.4       —  
    Impairment of long-term investment     —       0.4  
    Loss on extinguishment of royalty payable     —       2.9  
    Interest on long-term debt and accretion of royalty payable     2.8       3.0  
    Interest and other income, net of bank charges     (1.2 )     (2.7 )
    Loss before income taxes   $ (16.9 )   $ (48.7 )
    EBITDA and Adjusted EBITDA                
    Three months ended   31-Mar-23   30-Jun-23   30-Sep-23   31-Dec-23   31-Mar-24   30-Jun-24   30-Sep-24   31-Dec-24
    Income (loss) before income taxes   $         (9.7 )   $         (13.0 )   $         (12.0 )   $         (14.0 )   $         (12.9 )   $         6.8             $         (2.5 )   $         (8.3 )
    Interest expense, net             0.4                       (0.1 )             0.2                       (0.2 )             0.5                       0.5                       0.4                       0.2          
    Depreciation and amortization             3.0                       3.0                       3.2                       3.3                       3.2                       1.7                       1.8                       2.0          
    EBITDA   $         (6.3 )   $         (10.1 )   $         (8.6 )   $         (10.9 )   $         (9.2 )   $         9.0             $         (0.3 )   $         (6.1 )
    Stock based compensation (recovery)   $         0.7             $         0.8             $         (0.3 )   $         1.4             $         0.3             $         1.2             $         (0.1 )   $         —          
    Unrealized foreign exchange (gain) loss   $         1.1             $         2.4             $         1.4             $         (0.9 )   $         1.8             $         0.1             $         (1.1 )   $         5.4          
    Loss on extinguishment of royalty payable   $         —             $         2.9             $         —             $         —             $         —             $         —             $         —             $         —          
    Severance costs   $         —             $         —             $         4.5             $         —             $         0.5             $         0.2             $         0.1             $         0.1          
    Gain on deconsolidation   $         —             $         —             $         —             $         —             $         —             $         (13.3 )   $         —             $         (1.9 )
    Loss on sale of investment   $         —             $         —             $         —             $         —             $         —             $         —             $         0.4             $         —          
    Restructuring costs   $         —             $         —             $         —             $         —             $         —             $         0.8             $         0.2             $         —          
    Loss on sale of assets   $         —             $         —             $         —             $         —             $         —             $         —             $         —             $         0.7          
    Impairment of long-term investment   $         —             $         —             $         —             $         0.4             $         —             $         —             $         —             $         —          
    Adjusted EBITDA   $         (4.5 )   $         (4.0 )   $         (3.0 )   $         (10.0 )   $         (6.6 )   $         (2.0 )   $         (0.8 )   $         (1.8 )
    WESTPORT FUEL SYSTEMS INC.
    Consolidated Balance Sheets
    (Expressed in thousands of United States dollars, except share amounts)
    December 31, 2024 and 2023
        December 31,
          2024       2023  
    Assets        
    Current assets:        
    Cash and cash equivalents (including restricted cash)   $ 37,646     $ 54,853  
    Accounts receivable     73,054       88,077  
    Inventories     53,526       67,530  
    Prepaid expenses     5,660       6,323  
    Total current assets     169,886       216,783  
    Long-term investments     39,732       4,792  
    Property, plant and equipment     41,956       69,489  
    Operating lease right-of-use assets     19,019       22,877  
    Intangible assets     5,277       6,822  
    Deferred income tax assets     9,695       11,554  
    Goodwill     2,876       3,066  
    Other long-term assets     3,180       20,365  
    Total assets   $ 291,621     $ 355,748  
    Liabilities and Shareholders’ Equity        
    Current liabilities:        
    Accounts payable and accrued liabilities   $ 88,123     $ 95,374  
    Current portion of operating lease liabilities     2,624       3,307  
    Short-term debt     —       15,156  
    Current portion of long-term debt     14,660       14,108  
    Current portion of warranty liability     3,861       6,892  
    Total current liabilities     109,268       134,837  
    Long-term operating lease liabilities     16,433       19,300  
    Long-term debt     19,067       30,957  
    Warranty liability     1,456       1,614  
    Deferred income tax liabilities     4,029       3,477  
    Other long-term liabilities     4,343       5,115  
    Total liabilities     154,596       195,300  
    Shareholders’ equity:        
    Share capital:        
    Unlimited common and preferred shares, no par value        
    17,282,934 (2023 – 17,174,502) common shares issued and outstanding     1,245,805       1,244,539  
    Other equity instruments     9,472       9,672  
    Additional paid-in-capital     11,516       11,516  
    Accumulated deficit     (1,096,275 )     (1,074,434 )
    Accumulated other comprehensive loss     (33,493 )     (30,845 )
    Total shareholders’ equity     137,025       160,448  
    Total liabilities and shareholders’ equity   $ 291,621     $ 355,748  
    WESTPORT FUEL SYSTEMS INC.  
    Consolidated Statements of Operations and Comprehensive Income (Loss)  
    (Expressed in thousands of United States dollars, except share and per share amounts)  
    Years ended December 31, 2024 and 2023  
        Years ended December 31,
          2024       2023  
    Revenue   $ 302,299     $ 331,799  
    Cost of revenue     244,708       282,862  
    Gross profit     57,591       48,937  
    Operating expenses:        
    Research and development     21,587       26,003  
    General and administrative     37,679       44,234  
    Sales and marketing     12,676       16,278  
    Foreign exchange loss     6,248       3,974  
    Depreciation and amortization     3,367       4,299  
    Loss on sale of assets     703       32  
          82,260       94,820  
    Loss from operations     (24,669 )     (45,883 )
             
    Income from investments accounted for by the equity method     (5,402 )     780  
    Gain on deconsolidation     15,198       —  
    Loss on sale of investment     (352 )     —  
    Loss on extinguishment of royalty payable     —       (2,909 )
    Interest on long-term debt and accretion of royalty payable     (2,797 )     (2,981 )
    Impairment of long-term investment     —       (413 )
    Interest and other income, net of bank charges     1,161       2,690  
    Loss before income taxes     (16,861 )     (48,716 )
    Income tax expense (recovery):        
    Current     3,183       1,786  
    Deferred     1,797       (784 )
          4,980       1,002  
    Net loss for the year     (21,841 )     (49,718 )
    Other comprehensive income (loss):        
    Cumulative translation adjustment     (2,535 )     4,473  
    Ownership share of equity method investments’ other comprehensive loss   $ (113 )   $ —  
        $ (2,648 )   $ 4,473  
    Comprehensive loss   $ (24,489 )   $ (45,245 )
    Loss per share:        
    Net loss per share – basic and diluted   $ (1.27 )   $ (2.90 )
    Weighted average common shares outstanding:        
    Basic and diluted     17,248,090       17,173,016  
    WESTPORT FUEL SYSTEMS INC.
    Consolidated Statements of Cash Flows
    (Expressed in thousands of United States dollars)
    Years ended December 31, 2024 and 2023
        Years ended December 31,
          2024       2023  
             
    Operating activities:        
    Net loss for the year   $ (21,841 )   $ (49,718 )
    Adjustments to reconcile net loss to net cash provided by (used in) operating activities:        
    Depreciation and amortization     8,661       12,490  
    Stock-based compensation expense     1,066       1,727  
    Unrealized foreign exchange loss     6,248       3,974  
    Deferred income tax expense (recovery)     1,797       (784 )
    Loss (income) from investments accounted for by the equity method     5,402       (780 )
    Interest on long-term debt and accretion of royalty payable     74       9  
    Impairment of long-term investment     —       413  
    Change in inventory write-downs to net realizable value     3,283       7,066  
    Gain on deconsolidation     (15,198 )     —  
    Loss on sale of investment     352       —  
    Net loss on sale of assets     627       32  
    Loss on extinguishment of royalty payable     —       2,909  
    Change in bad debt expense     282       56  
    Changes in operating assets and liabilities:        
    Accounts receivable     25,567       5,340  
    Inventories     (6,836 )     9,481  
    Prepaid expenses     (153 )     2,869  
    Accounts payable and accrued liabilities     2,233       (2,448 )
    Warranty liability     (4,380 )     (5,829 )
    Net cash provided by (used in) operating activities     7,184       (13,193 )
    Investing activities:        
    Purchase of property, plant and equipment     (16,923 )     (15,574 )
    Proceeds on sale of investments     29,994       —  
    Proceeds on sale of assets     998       161  
    Dividends received from investments accounted for by the equity method     297       —  
    Capital contributions to investments accounted for by the equity method     (9,900 )     —  
    Net cash provided by (used in) investing activities     4,466       (15,413 )
    Financing activities:        
    Drawings on operating lines of credit and long-term facilities     19,336       46,367  
    Repayment of operating lines of credit and long-term facilities     (44,546 )     (39,904 )
    Payment of royalty payable     —       (8,687 )
    Net cash used in financing activities     (25,210 )     (2,224 )
    Effect of foreign exchange on cash and cash equivalents     (3,647 )     (501 )
    Net decrease in cash and cash equivalents     (17,207 )     (31,331 )
    Cash and cash equivalents, beginning of year (including restricted cash)     54,853       86,184  
    Cash and cash equivalents, end of year (including restricted cash)     37,646       54,853  

    The MIL Network –

  • MIL-OSI Banking: Digitalization for Improving Elder Care

    Source: Asia Development Bank

    The authors explore both the opportunities and challenges of the digital transformation for elder care. Through case studies from diverse contexts, the book highlights the importance of involving older people as active participants in the digital economy. It sets out practical considerations for policymakers and practitioners to help advance efficient, dignified, and high-quality elder care in the digital age.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Secretary-General of ASEAN joins ASEAN Foreign Ministers in a Special Emergency Meeting in the aftermath of the earthquake in Myanmar

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today joined ASEAN Foreign Ministers and the Foreign Minister of Timor-Leste in a Special Emergency Meeting to discuss ASEAN’s humanitarian assistance to Myanmar in the wake of the devastating earthquake that struck central Myanmar, on 28 March 2025. At the Meeting, held via videoconference, ASEAN reaffirmed its support of relief and recovery efforts, based on priorities identified by Myanmar, with the assistance of the ASEAN Coordinating Centre for Humanitarian Assistance on disaster management (AHA Centre).

    The post Secretary-General of ASEAN joins ASEAN Foreign Ministers in a Special Emergency Meeting in the aftermath of the earthquake in Myanmar appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Banking: ASEAN Foreign Ministers’ Statement on the Outcome of the Special Emergency Meeting of ASEAN Foreign Ministers in the Aftermath of the Earthquake in Myanmar and Thailand

    Source: ASEAN – Association of SouthEast Asian Nations

    1. A Special Emergency Meeting of the ASEAN Foreign Ministers was held on 30 March 2025 via videoconference following the 7.7 magnitude earthquake that struck central Myanmar on 28 March 2025, affecting the peoples of Myanmar and Thailand.

    2. The ASEAN Foreign Ministers extended their deepest sympathies and condolences to the peoples of Myanmar and Thailand who were affected by the earthquake, resulting in significant loss of life, injuries, and widespread destruction, particularly in Mandalay, Nay Pyi Taw, Sagaing, Bangkok, Chiang Mai and surrounding areas.

    To read full statement please click here.
    The post ASEAN Foreign Ministers’ Statement on the Outcome of the Special Emergency Meeting of ASEAN Foreign Ministers in the Aftermath of the Earthquake in Myanmar and Thailand appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Osaka/Kansai Expo: Construction of Panasonic Group Pavilion “The Land of NOMO” Completed, Allowing Adults and Children to “Unlock” with the Latest Technology

    Source: Panasonic

    Headline: Osaka/Kansai Expo: Construction of Panasonic Group Pavilion “The Land of NOMO” Completed, Allowing Adults and Children to “Unlock” with the Latest Technology

    The April 13 opening of the 2025 Japan International Expo (Expo 2025 Osaka, Kansai, Japan, “Expo 2025”) is rapidly approaching. In mid-February, a completion ceremony for Panasonic Group’s hands-on “The Land of Nomo” pavilion was held at the venue for Expo 2025 on Yumeshima in Konohana-ku, Osaka. Based on the concept of “Set your heart and mind free, and the world will open up,” the pavilion has various features to stimulate the senses of children—leaders of the next generation—and “Unlock” their imaginations. In the following we introduce more details about the completed pavilion, including features of each area, together with comments from architect Yuko Nagayama, who designed the building, and Michiko Ogawa, Director in charge of Kansai External Relations and EXPO Promotion at Panasonic Holdings Co.

    Construction Completed on The Land of NOMO and Its “Unlock” Experience

    The Panasonic Group’s The Land of NOMO pavilion was designed as a place where children, especially those from the Alpha generation, could experience the concept of “circulation,” which is the idea that everything is connected—matter, minds, sustainability, and well-being.
    The keyword “recycling” is both a theme connecting exhibition content and also a feature of the pavilion’s design. The pavilion’s resource-recycling architecture, which actively utilizes recycled iron and copper recovered from end-of-Life appliances and waste materials from factories, achieves total carbon neutrality from procurement through dismantling. Commenting on the design, Nagayama said that it extends beyond reuse and usability to also express “Joy and Beauty.” 

    The recently completed “The Land of NOMO” consists of the 922 m2 “Unlock Experience Area” and the 165 m2 “Earth” exhibition area1. The Land of NOMO’s tagline is “Unlock your nature.”
    1 Total floor area of The Land of NOMO is 1,731.64 m2, and the site area occupies 3,508.08 m2

    The façade is covered with a membrane made of layered organdie2 and a special metal. The effect is of soft fabric fluttering in the sea breeze. Said Nagayama: “It’s a structure that changes its appearance and reveals different shapes depending on how you look at it.”
    2 A thin, light, and transparent fabric

    The façade was completed at the end of January 2025, and consists of 730 organdie membranes installed on 1,404 frames. The façade is formed by these stacked curved frames, which represent “circulation.” As many as 20 units are stacked together in some parts of the façade.

    Outside the pavilion is displayed a prototype of a “glass-type perovskite solar cell” designed by artist Kaede Wajima, in collaboration with HERALBONY Co., Ltd., a company involved in a number of projects to decorate the city with art created by artists with disabilities.

    During Expo 2025, The Land of NOMO pavilion will be lit up at night using electricity generated from hydrogen derived from zero-carbon electricity. A lighting ceremony was held on March 1 at the pavilion, which will be lit up with lights and mist to create a fantastic effect on the façade.

    [embedded content]

    A Glimpse of the Panasonic Group Pavilion “The Land of NOMO”

    Unlock Experience Area—What to Expect in Each ZONE

    The Land of NOMO is made up of the Unlock Experience Area and the “Earth” exhibition area. The Unlock Experience Area provides an experience that allows children to become aware of the sensitivities that lie dormant within themselves, freeing them from preconceived notions and unleashing their hidden powers.
    The Unlock Experience Area has four zones and is an immersive space that stimulates the five senses by making full use of the Panasonic Group’s “spatial production” technologies related to light, video, sound, and air. In addition, using facial expression and behavior analysis techniques based on research into “Human Insight,” the possibilities and stories of each individual are depicted using a “butterfly” motif that reflects the person’s individuality and characteristics.

    ZONE 1: Deep within the Mirror Pond—Wandering through the Land of Nomo

    ZONE 1 uses technology based on “Space Tune ”—a 23.4-channel 3D sound system composed of high-quality Technics speakers and high-brightness projectors—to adjust the optimal sound quality according to the room’s setup. 
    Participants who wander into the zone have their senses sharpened cross-modally through three-dimensional sound, visuals, and vibrations, allowing them to fully perceive the world of “wind, water, light, and life”—elements they usually take for granted—beginning their Unlock experience.

    ZONE 2: NOMO Forest—Exploring the Unknown World

    ZONE 2 is a beautiful forest full of life and energy. The key to this experience is a crystal device embedded with a radio frequency identification (RFID) tag.

    The person experiencing the installation holds the crystal in their hand and explores the unknown world as their heart (sensitivity) guides them. When the crystal is held up to exhibits representing rocks and trees, they respond with sound and light. 
    Six cameras are installed in this area, and the movements of the person experiencing the installation are analyzed based on information from the wireless tags and cameras.

    ZONE 3: The Valley of Ancient Trees—Releasing Butterflies from Crystals

    ZONE 3 has 17 ancient trees, each containing transparent OLED displays and four cameras for facial expression analysis. When participants peer into the ancient trees, their expressions are analyzed, and the behavioral data from ZONE 2 is analyzed using a “sensibility model.” This results in a display of visuals reflecting the individuality and characteristics of each person. Next, a “butterfly” is released from a crystal and guides them through the “Waterfall = Mist Wall.”

    Waterfall—Taking a Courageous Step Forward

    Here they encounter a Mist Wall3 7 meters wide and 3.5 meters high. A screen of mist in the shape of a waterfall is created using Silky Fine Mist, an extremely fine mist produced by dual-fluid nozzles. Images of butterflies and other objects are projected onto the mist using a high-brightness projectors. Summoning up their courage, they step into the space beyond.
    3 A screen of images made from extremely fine mist with a particle diameter of 6μm, created using technology that suppresses diffusion and delivers air currents over long distances.

    ZONE 4: Into the Wide Open Sky—Butterflies Flap Their Wings and Harmonize

    ZONE 4 is a dynamic immersive theater where images are projected in a 360° space by 21 high-brightness projectors, and sound and visuals interact three-dimensionally. When people hold their crystal devices to the designated spots and use a “leaf-like fan device” to make wind, “butterflies” are born on the floor and produce various sounds as they flap their wings into the great sky. The separate sounds eventually harmonize, creating music, while vortex rings (mist rings) with a diameter of 1.3 meters4 are projected from five points on the ceiling, creating an immersive space.
    4 A ring of mist created using a technology that traps and propels the mist in a vortex of air

    Holding their crystal in this space projects the person’s personal “butterfly” onto the floor. Fanning the butterfly with a fan releases it into the sky.

    After the experience, when participants return the crystal device to the designated location, each person receives an Unlock Card that reflects their experience results. By accessing the QR code printed on the card, they can look back on their experience in The Land of NOMO.

    Earth Area—Experience the Society of the Future Where People and Nature Circulate Together

    The Earth Area is a place where people can think together about a better future within an exhibition space where the cycles of human activity and natural activity interact with each other. Children visiting The Land of NOMO will have the opportunity to experience a future in which people and nature expand each other’s potential through an intuitive experience of touch and smell.
    The exhibition space introduces the following five technologies that will help make the future a reality:
    The Future of Food with the Power of Photosynthetic Microorganisms: Cyanobacteria (Photosynthetic Microorganisms)
    The Future of Energy with “Power-Generating Glass”: Perovskite Solar Cells
    The Future of Manufacturing Returning to Nature: Biodegradable Cellulose Fiber
    The Future of Lighting with the Power of Luminous Microorganisms: Bio-Light (Luminous Microorganisms)
    The Future of Human and Nature’s Cyclical Activities: Bio-Sensory Dome

    The Future of Food with the Power of Photosynthetic Microorganisms: Cyanobacteria (Photosynthetic Microorganisms)

    The Future of Energy with “Power-Generating Glass”: Perovskite Solar Cells

    The Future of Manufacturing Returning to Nature: Biodegradable Cellulose Fiber

    The Future of Lighting with the Power of Luminous Microorganisms: Bio-Light (Luminous Microorganisms)

    The Future of Human and Nature’s Cyclical Activities: Bio-Sensory Dome

    Hoping People Will Genuinely Enjoy a World Carefully Constructed by Adults

    Ogawa and Nagayama shared their thoughts following the completion ceremony.
    “This project, which began in October 2021, has finally reached the completion ceremony, and I feel like we’ve come a long way,” said Ogawa. “This pavilion was made possible by the support of nearly 200 engineers from the Panasonic Group who worked on it alongside their usual jobs, and I think that the objects and technologies that adults have created with such care will resonate with children in some way. I hope that they experience a sense of excitement, and that each person carries this feeling with them for a long time. I would be pleased if many people, both children and adults, have the opportunity to let go and enjoy the Unlock experience.”
    “Children, so to speak, are ‘formless beings’ who are constantly changing. You could say that they’re still in the process of discovering what shape they will be,” said Nagayama. “It would be wonderful if these children could first see the facade of The Land of NOMO and be fascinated by the constantly changing colors and movements. I hope that they will see themselves in the ever-changing pavilion and be exhilarated.”

    The Panasonic Group is promoting a variety of initiatives to realize “an ideal society offering material and spiritual affluence” and a better life for people everywhere. As a company founded in Osaka, Panasonic will convey the technological capabilities and appeal of Japanese companies to visitors from around the world during Expo 2025.

    Related Videos

    [embedded content]

    Recap: The Journey to Completion of “The Land of NOMO”

    Related Articles

    MIL OSI Global Banks –

  • MIL-OSI United Nations: FOCUS ON: In Barbados, Multi-Hazard Early Warning System saves lives

    Source: UNISDR Disaster Risk Reduction

    Hurricane Beryl, the first major hurricane of the 2024 Atlantic season, left a trail of destruction across multiple Caribbean islands. At major Category 4 strength, Beryl was the strongest hurricane ever recorded in June. Entire communities were left in ruins, with infrastructure crippled and thousands displaced in Grenada and Saint Vincent and the Grenadines.

    Despite the damage incurred, compared to the 176 homes damaged and one fatality caused by Hurricane Ivan in 2004, the destruction in 2024 was slight. That Beryl’s impact in Barbados was not far greater is largely due to the country’s Multi-Hazard Early Warning System (MHEWS).

    The importance of MHEWS, which safeguard lives and reduce the impact of disasters, cannot be overstated. The EW4All initiative exemplifies the power of combining advanced technology, effective communication strategies and local knowledge. EW4All enhances community preparedness and response capabilities, fostering resilience across vulnerable populations.

    Barbados recently approved its MHEWS policy, establishing clear roles, sustainability and financing. The Barbados Meteorological Service, the Department of Emergency

    Management and Government Information Service collaborated effectively to provide timely warnings. Advanced technology, including satellite imagery leveraged through partnerships with Microsoft and MapAction, enabled swift, targeted responses to infrastructure damage.

    The lessons learned from Hurricane Beryl will guide future efforts to improve preparedness, response and recovery, ensuring the safety and well-being of communities across the region. Barbados’ success is now being shared globally, with peer-to-peer learning exchanges extending to African Indian Ocean Island countries. This highlights the importance of engagement and coordination among national sectors and regional entities.

    Back to the UNDRR 2024 Annual Report

    MIL OSI United Nations News –

  • MIL-OSI United Nations: FOCUS ON: Resilient infrastructure

    Source: UNISDR Disaster Risk Reduction

    Infrastructure is the backbone of modern society. It powers cities, connects communities and supports economic activity. Yet every year, disasters wreak havoc on infrastructure worldwide, causing economic losses that exceed US$700 billion.

    The impact is disproportionately felt by poorer nations, where fragile infrastructure can mean the difference between recovery and years of lost development. UNDRR is at the forefront of the mission to help countries fortify their infrastructure, ensuring sustainable growth and safeguarding lives.

    The Sendai Framework for Disaster Risk Reduction and the Sustainable Development Goals emphasize infrastructure resilience, urging nations to integrate risk reduction into their development strategies. However, resilience is more than just withstanding disasters – it means designing systems that can adapt, recover and even improve in the face of adversity. With climate change intensifying risks, countries need innovative solutions and stronger governance to protect their infrastructure investments.

    In collaboration with the Coalition for Disaster Resilient Infrastructure, UNDRR has pioneered an innovative approach. Through tailored interventions, UNDRR has enabled nations to identify weaknesses across critical sectors such as transport, energy, water and telecommunications. By conducting stress tests, infrastructure vulnerabilities have been pinpointed using satellite imagery and geolocalized data, allowing governments to take pre-emptive action. Benchmarking national infrastructure policies against global best practices, such as the Principles for Resilient Infrastructure, has helped align national strategies with proven methodologies. Furthermore, strategic road maps have been developed to guide planning, construction and long-term operations, ensuring resilience is embedded throughout the infrastructure lifecycle.

    UNDRR’s impact is already evident across the globe:

    • Bhutan has integrated resilience measures into its five-year strategic plan, shaping national infrastructure policy for years to come.
    • In Chile, UNDRR’s stress testing prompted national authorities to recognize drought and water scarcity as critical threats, leading to strengthened institutional capacity for risk management.
    • Costa Rica has developed a new data platform, ensuring that future infrastructure investments are informed by risk analysis.
    • Ghana is institutionalizing a technical working group on critical infrastructure to coordinate national disaster resilience efforts more effectively.
    • In Madagascar, a review of regulatory frameworks has led the Government to consider new resilience standards in energy and telecommunications.
    • The Government of Panama is overhauling infrastructure procurement processes and establishing a resilience commission to mainstream risk management in national policies.
    • In Tonga, a deep analysis of the water sector has led to enhanced emergency planning, better water security and improved monitoring of groundwater resources, ensuring communities have access to clean water even during crises.

    UNDRR’s efforts in these countries have significantly strengthened national policies and institutional frameworks for resilient infrastructure. This will positively impact the reduction of disaster damage to critical infrastructure – Sendai Framework Target D – by integrating risk analysis into infrastructure planning, enhancing resource allocation through improved coordination mechanisms, and strengthening construction and maintenance practices. Combined, these actions reduce the likelihood of infrastructure failures and protect economic investment and activity. Infrastructure resilience requires cross-sectoral collaboration to manage interdependencies and prevent cascading failures. Engaging stakeholders across public and private sectors and civil society fosters inclusive and sustainable resilience strategies. Finally, data-driven decision-making ensures that infrastructure investments are both sustainable and secure.

    The time to act is now. As climate change continues to challenge global stability, resilient infrastructure will be the foundation upon which sustainable, inclusive and disaster-ready societies are built. UNDRR’s continued leadership and global collaboration can ensure that our lifeline in times of crisis remains strong in an uncertain world.

    Back to the UNDRR 2024 Annual Report

    MIL OSI United Nations News –

  • MIL-OSI United Nations: FOCUS ON: Empowering women and transforming disaster resilience

    Source: UNISDR Disaster Risk Reduction

    The need for gender-responsive and inclusive DRR has never been more urgent. Hazards and risks are not experienced equally; women, in particular, face unique challenges that compound the impacts of disasters. Yet amid these challenges, UNDRR is championing a transformative approach that ensures no one is left behind, not only reducing risks but also empowering communities to build a more resilient future.

    In Latin America and the Caribbean, the Latin American and Caribbean Women’s Network for Disaster Risk Reduction has over 1,535 active members. Operating through autonomous working groups and guided by a robust long-term strategic plan, the network is redefining disaster resilience in the region. Liliam Patricia Cuevas Berrio from the Global Network of Civil Society Organisations for Disaster Reduction affirmed:

    The Women’s Network for Disaster Risk Reduction is a unique platform that highlights the vital role women play in disaster risk management. It fosters a sense of shared commitment and responsibility among its members, providing an opportunity for collaboration, learning and empowerment. Initiatives like these are essential to advancing resilience and ensuring inclusive governance in the region.

    The Disaster Resilience Scorecard for Cities: Addendum for Gender Equality and Intersectionality has enabled local governments to diagnose gaps in their DRR strategies and implement tailored, gender-sensitive actions. This tool not only identifies weaknesses but also highlights opportunities for growth, ensuring that disaster response plans incorporate the perspectives and needs of all community members. Such initiatives are laying the groundwork for systemic change by transforming data into actionable insights and making gender equity a central pillar of disaster governance.

    Beyond the Americas, the Asia-Pacific Ministerial Conference on Disaster Risk Reduction in Manila broke new ground by establishing the first-ever Help Desk on gender-responsive and socially inclusive DRR. Its findings are already steering future interventions towards more meaningful dialogue and action.

    Perhaps the most ambitious of these efforts is the Sendai Gender Action Plan (GAP), launched in March 2024. The Lao People’s Democratic Republic has integrated the GAP into its National DRR Action Plan, directly addressing the unique risks faced by women and girls. As one Lao People’s Democratic Republic government representative stated, highlighting the transformative impact of this global initiative: “The Sendai GAP has been instrumental in helping us integrate gender-responsive strategies into our DRR action plan. It ensures that the needs of all our people are addressed during every step of the process.”

    Similarly, in Cambodia, collaborative efforts between UNDRR and UN-Women have enriched national strategies with diverse gender perspectives. In Samoa, enhanced capacities for collecting disaggregated data have provided clearer insights into how disasters affect different groups, leading to more targeted DRR interventions. Initiatives in Djibouti, Somalia and Sudan have further bolstered gender-responsive governance.

    The journey towards gender-responsive DRR is not without challenges. Persistent gender inequalities and entrenched social biases continue to pose risks that are often magnified during disasters. However, UNDRR is fostering environments where women and girls can lead the way in building safer, more resilient communities.

    In 2024, UNDRR also made strides in championing disability inclusion, advocating for the inclusion of persons with disabilities in DRR at international events and in key discourses. Key moments included presentations at the thirtieth session of the Convention of the Rights of Persons with Disabilities, the Summit of the Future high-level event on disability inclusion and the Equality Conference in Ankara.

    Closer to home, UNDRR implemented its disability inclusion policy, achieving milestones such as recruiting staff with disabilities, developing guidelines for reasonable accommodation, and ensuring participation of persons with disabilities in regional DRR platforms. Awareness was raised through publications and social media, and the UNDRR United Nations Disability Inclusion Strategy focal point actively supported policy implementation.

    Efforts extended to making workshops and webinars accessible, updating conference registration templates and ensuring accessible options for Disability Inclusion Scorecard workshops globally. UNDRR’s communication and knowledge management activities featured numerous content pieces on disability, garnering significant engagement on social media, to further spread the important message of inclusive DRR and how to make it happen.

    Back to the UNDRR 2024 Annual Report

    MIL OSI United Nations News –

  • MIL-OSI United Nations: FOCUS ON: Regional platforms raising the bar on DRR financing

    Source: UNISDR Disaster Risk Reduction

    Asia and the Pacific

    The Asia-Pacific Ministerial Conference on DRR was held in Manila, the Philippines, with 7,000 ministers and participants in attendance. President Ferdinand Marcos Jr., who opened the event, emphasized funding as a priority issue of the conference and called for greater access for developing and least developed countries to financial resources. “We must significantly increase our investments and develop financing mechanisms in disaster risk reduction,” he said.

    Throughout the week, participants engaged in discussions on key themes, including financing, inclusion and local-level engagement for disaster and climate resilience. The official deliberations were accompanied by major events and exhibitions, “Are You Ready? and Tsunami: Sea Change for Resilience”, engaging thousands of children and youth in prevention, as well as awards on women’s leadership in DRR.

    Africa

    After three days of discussions, the Ninth Session of the Africa Regional Platform for Disaster Risk Reduction in Namibia concluded with the adoption of the Windhoek Declaration on advancing the Programme of Action for the Implementation of the Sendai Framework for Disaster Risk Reduction 2015–2030 in Africa. This ambitious document sets the direction for the next three years, reinforcing Africa’s commitment to reducing disaster risks and building resilience across the continent.

    Financing efforts were at the heart of the discussions. The Windhoek Declaration calls on Member States to increase budgetary allocation and establish innovative financing solutions, with support from regional and international partners to access funding, including for loss and damages and the EW4ALL initiative.

    The Windhoek Declaration also reiterates the call for inclusivity, especially in legislation and policies, but also through better national systems for gathering disaggregated data. The event called for mainstreaming of DRR in development programmes, and aligned DRR strategies with sustainable development and climate resilience policies, ensuring coherent and comprehensive approaches across all levels of governance as climate-related disasters continue to grow.

    Europe

    The 2024 Europe and Central Asia Regional Platform for Disaster Risk Reduction was held in Budva, Montenegro, bringing together over 700 participants, including ministers, civil protection leaders and diverse stakeholders from 55 United Nations Member States.

    In a show of unity, Member States endorsed a political declaration that committed to strengthening DRR and addressing the growing impacts of climate change in the region, ahead of COP29.

    They acknowledged the escalating risks across the region, exacerbated by climate change, economic vulnerabilities and geopolitical tensions, and committed to four targeted actions in line with the Sendai Framework for Disaster Risk Reduction and the European Forum for Disaster Risk Reduction Roadmap 2021–2040: integrated action on DRR and climate resilience; inclusive risk governance; increased financing for resilience; and enhanced EWS.

    Additionally, the Platform launched the Montenegro Call for Action on Earthquake Risk, aimed at strengthening regional cooperation, improving technical capacity, and driving investments towards earthquake resilience.

    Outcomes from these events, and the Regional Platform in the Arab States, will all feed into the Global Platform in Geneva in June 2025.

    Back to the UNDRR 2024 Annual Report

    MIL OSI United Nations News –

  • MIL-OSI United Nations: FOCUS ON: How media and risk communication save lives

    Source: UNISDR Disaster Risk Reduction

    UNDRR has long championed the critical role of communication in DRR. In 2024, the Media Saving Lives project conducted in partnership with the World Broadcasting Unions highlighted the importance of media as a vital component of MHEWS.

    With a clear focus on ensuring that risk information reaches the last mile, the initiative strengthened linkages across national disaster management agencies, meteorological offices and national broadcasters. These collaborations ensured coordinated messaging during crises, fostering a more responsive and efficient early warning chain.

    The project further supported broadcasting organizations to enhance their readiness and resilience in times of disaster. Six media organizations established new Standard Operating Procedures to ensure their continuity plans, so these can remain a lifeline for disaster-affected communities.

    On the twentieth anniversary of the 2004 tsunami, six broadcasting houses collaborated on the production of a regional documentary series in the lead-up to the commemoration. The initiative culminated in an hour-long documentary, which examined lessons learned, technological advancements and the resilience of communities that experienced the tsunami’s devastating impact.

    Through compelling storytelling, expert interviews and survivor testimonies, the documentary highlighted successful early warning interventions in high-risk coastal regions and reinforced the need for continuous investment in education, public awareness and coordinated DRR efforts.

    A key milestone in 2024 was the first regional summit in Africa on DRR and climate change, alongside the launch of the Global Media Network for DRR in Bali. These events brought together media professionals to exchange experiences, discuss challenges and share good practices in disaster risk communication and disaster coverage.

    In collaboration with BBC Media Action, the Risk Communication for Early Action project explored challenges and opportunities for media and communication to contribute to DRR. This initiative focused on three pilot countries: Cambodia (hard-to-reach populations), Somalia (conflict-affected communities) and Barbados (fisherfolk and elderly citizens).

    In Maldives, UNDRR carried out a joint risk communication campaign with the National Disaster Management Authority, Maldives, and the Maldivian Red Crescent that was informed by a nationwide assessment of Maldivians’ understanding of disaster risks, early warning messages, and actions to reduce future losses and damages from hazardous events. Global tools, including a Pocket Guide for planning disaster risk communication to support early warning and early action and a Guide for Essential Research, were developed and piloted across the three countries, ensuring their real-world applicability.

    Global tools, including a Pocket Guide for planning disaster risk communication to support early warning and early action and a Guide for Essential Research, were developed and piloted across the three countries, ensuring their real-world applicability.

    The knowledge and materials produced through the Risk Communication for Early Action project have informed the development of the Disaster Risk Communication Hub on PreventionWeb. This global platform consolidates the best practices, research and tools to enhance disaster risk communication strategies worldwide. As a living knowledge platform, the hub ensures that the lessons learned through this initiative continue to shape future DRR efforts, inspiring collaboration and driving innovation in risk communication.

    Back to the UNDRR 2024 Annual Report

    MIL OSI United Nations News –

  • MIL-OSI United Nations: UNDRR 2024 Annual Report

    Source: UNISDR Disaster Risk Reduction

    02

    Strategies, governance and capacity-building

    Target E of the Sendai Framework calls for a substantial increase in the number of countries with national and local DRR strategies by 2020.

    Though a strategy is not the end goal, UNDRR has found that countries with national DRR strategies tend to have more robust DRR governance and a higher prevalence of EWS, demonstrating the value of investment in this fundamental DRR pillar.

    The Government of Jordan has developed its National Disaster Risk Reduction Strategy (2023–2030) in a participatory manner involving different governmental entities, ministries and municipalities, and the Public Security Directorate (Civil Defense), with support from UNDRR and the United Nations Development Programme country office. The strategy also integrates biological hazard risk reduction with the aim of building back better after the COVID-19 pandemic.

    Within the framework of Jordan’s efforts to deal with increasing threats and risks, the National Centre for Security and Crises Management has played a major role in developing two integrated risk registers; the national risk register and the local register for governorates. Both registers aim to improve the kingdom’s capacity to respond to disasters through accurate identification of risks, and enhanced coordination between the local and national levels for improved risk governance.

    Through this effective coordination between the national and local risk registers, Jordan has made great strides in reducing risks and enhancing community resilience, making the kingdom a role model for disaster management and risk reduction at the regional level.

    Morocco, too, has taken concrete steps to strengthen its risk governance. It established the Directorate of Natural Risk Management under the Ministry of Interior as its national DRR coordination mechanism. Morocco also established the National Risk Observatory to collect, analyse and share data on natural hazard risk. Furthermore, Morocco established a National Risk Forecasting Centre for monitoring and alerting, and an Operational Risk Anticipation Centre for forecasting, alerting and risk management assistance systems. Another successful project comprised the generalization of coverage of the entire national territory using multiscale and multi-hazard risk maps (for natural hazards).

    Albania’s National Disaster Risk Reduction Strategy demonstrates widespread integration of concerns related to climate change and triggers the engagement of new sectors, particularly tourism.

    The vision statement explicitly brings together DRR, climate change and sustainable development using the language of resilience, while the document includes a detailed plan of action for DRR implementation that integrates institutions such as the Ministry of Tourism and Environment and the Ministry of Infrastructure and Energy.

    In particular, it articulates the implementation of the ALBAdapt project Climate Services for a Resilient Albania. The Ministry of Tourism and Environment is identified as the lead institution for implementation of a set of activities that offer compounding co-benefits for both DRR and climate change adaptation, including the development of a people-centred MHEWS, the creation of a fully functional and well-resourced National Meteorological and Hydrological Service.

    This integration is supported by articulations elsewhere in the country’s strategic profile, with the National Adaptation Plan 2019 including a priority area entitled “upgrading civil defence preparedness and DRR”. Elsewhere, the National Security Strategy of the Republic of Albania (2023–2028) addresses risks ranging from national security threats to climate change impacts, emphasizing resilience to disasters, while the National Strategy for Development and European Integration (NSDEI) 2022–2030 includes the integration of DRR and climate change adaptation planning among its priorities.

    National DRR strategies are the bedrock for multi-hazard risk governance and the achievement of Sendai Framework targets. These strategies help transform risk knowledge into actions and programmes that save lives and livelihoods. In addition, they serve as guides for mobilizing resources, delegating roles and responsibilities within government, and identifying entry points for non-governmental stakeholder engagement, all leading to more inclusive, sustainable development.

    With 131 countries now reporting having national DRR strategies, and 30 receiving technical support from UNDRR to develop them, this is just a snapshot of the progress being made globally in this important area.

    Under Brazil’s presidency, the Group of 20 (G20) recognized DRR as a critical component of economic resilience. Collaborating closely with UNDRR, Brazil facilitated the adoption of the first-ever G20 Ministerial Declaration on DRR. This landmark declaration emphasized the necessity of accelerating the Sendai Framework for Disaster Risk Reduction’s implementation, aiming to reduce disaster losses by 2030, and called for the development of high-level principles for DRR financing. The work of the G20 DRR Working Group, with UNDRR as the lead knowledge partner, further reflected a comprehensive approach to integrating DRR into economic and social policies.

    UNDRR’s capacity-building continues to go from strength to strength, with nearly 10,000 DRR practitioners being trained in 2024, 77 per cent of whom reported having a better understanding of DRR as a result. At one such workshop in the Global Education and Training Institute in Incheon, Republic of Korea, a remarkable collaboration unfolded – a pioneering workshop uniting experts from UNDRR and the Green Climate Fund (GCF) to empower government stakeholders from Mongolia and Bhutan to mobilize relevant partners and stakeholders and obtain funding for their DRR measures. This joint training begins a process of transforming the daunting challenges of climate change into opportunities for proactive DRR.

    Delegates were empowered by not only technical insights, but also the forging of lasting partnerships. The workshop’s training modules, co-designed by UNDRR and GCF specialists, delved deep into practical tools such as the EW4All Checklist for Gap Analysis, equipping participants to critically assess their national capacities and pinpoint vulnerabilities. “Early warning systems are important components for our national climate change adaptation strategy,” noted Ms. Tserendulam Shagdarsuren, Director General of the Climate Change Department, Ministry of Environment and Tourism in Mongolia, emphasizing how the training illuminated the next steps for their evolving EWS.

    This pilot UNDRR–GCF initiative is part of a broader strategy to replicate capacity-building endeavours in developing countries. Future workshops are planned for countries that are in very different geographic contexts yet face similar challenges (particularly those resulting from climate change), such as Somalia, Togo and the SIDS. These workshops aim to accelerate access to climate finance and enhance DRR measures worldwide.

    In a continuation of the Media Saving Lives programme, UNDRR and partners trained 520 journalists and media practitioners in DRR and risk communications, bringing the total to over 2,500 from 80 countries. Media are an integral part of the EWS delivery chain, and engaging them to build trust between government and communities can be the difference between life and death when disaster hits.

    The rise in global temperatures and the increasing frequency and severity of extreme heat events are rapidly becoming central challenges for nations worldwide. Yet many Member States, cities and societies remain ill-prepared to address this escalating threat. The imperative for enhanced extreme heat risk reduction, governance and management is clear. Without urgent and coordinated action, extreme heat will continue to endanger billions of lives, amplify health risks and threaten the ecosystems upon which we depend.

    In response, the UNDRR/World Meteorological Organization (WMO) Centre of Excellence for Climate and Disaster Resilience – together with the Global Heat Health Information Network, Duke University and WMO Centre of Excellence for Climate and Disaster Resilience partners – has developed an extreme heat decision-support package for countries tackling this global threat. The package includes: international organization resource and ecosystem mapping, readiness reviews and profiles; national best practice analytics; evaluations of heat action plans; and materials for development of an extreme heat maturity index for self-assessment. These materials can enhance collaboration, integrated heat risk governance and policy responses to extreme heat.

    UNDRR’s work and that of United Nations system partners, coupled with increasing demands for assistance from Member States, prompted and informed the United Nations Secretary-General’s Call to Action on Extreme Heat, issued in July 2024, in which he emphasized the need for urgent action if a future characterized by even more devastating heat impacts on lives, economies and ecosystems is to be avoided.

    This work is in turn informing the development of a Common Framework for Heat Risk Governance, led by UNDRR with the Global Heat Health Information Network, and Member States, international organizations and stakeholders. The Framework will receive inputs from (and is designed to bring together) multiple sectors, domains and scales – from agriculture and food systems, to energy systems, transportation, construction materials and design, and urban cooling. It is expected to assist national and subnational decision makers in designing and resourcing integrated actions to reduce extreme heat risk to people, urban and rural ecosystems, and the environment, preventing the loss of lives and livelihoods.

    MIL OSI United Nations News –

  • MIL-OSI United Nations: UNDRR Annual Report 2024

    Source: UNISDR Disaster Risk Reduction

    02

    Strategies, governance and capacity-building

    Target E of the Sendai Framework calls for a substantial increase in the number of countries with national and local DRR strategies by 2020.

    Though a strategy is not the end goal, UNDRR has found that countries with national DRR strategies tend to have more robust DRR governance and a higher prevalence of EWS, demonstrating the value of investment in this fundamental DRR pillar.

    The Government of Jordan has developed its National Disaster Risk Reduction Strategy (2023–2030) in a participatory manner involving different governmental entities, ministries and municipalities, and the Public Security Directorate (Civil Defense), with support from UNDRR and the United Nations Development Programme country office. The strategy also integrates biological hazard risk reduction with the aim of building back better after the COVID-19 pandemic.

    Within the framework of Jordan’s efforts to deal with increasing threats and risks, the National Centre for Security and Crises Management has played a major role in developing two integrated risk registers; the national risk register and the local register for governorates. Both registers aim to improve the kingdom’s capacity to respond to disasters through accurate identification of risks, and enhanced coordination between the local and national levels for improved risk governance.

    Through this effective coordination between the national and local risk registers, Jordan has made great strides in reducing risks and enhancing community resilience, making the kingdom a role model for disaster management and risk reduction at the regional level.

    Morocco, too, has taken concrete steps to strengthen its risk governance. It established the Directorate of Natural Risk Management under the Ministry of Interior as its national DRR coordination mechanism. Morocco also established the National Risk Observatory to collect, analyse and share data on natural hazard risk. Furthermore, Morocco established a National Risk Forecasting Centre for monitoring and alerting, and an Operational Risk Anticipation Centre for forecasting, alerting and risk management assistance systems. Another successful project comprised the generalization of coverage of the entire national territory using multiscale and multi-hazard risk maps (for natural hazards).

    Albania’s National Disaster Risk Reduction Strategy demonstrates widespread integration of concerns related to climate change and triggers the engagement of new sectors, particularly tourism.

    The vision statement explicitly brings together DRR, climate change and sustainable development using the language of resilience, while the document includes a detailed plan of action for DRR implementation that integrates institutions such as the Ministry of Tourism and Environment and the Ministry of Infrastructure and Energy.

    In particular, it articulates the implementation of the ALBAdapt project Climate Services for a Resilient Albania. The Ministry of Tourism and Environment is identified as the lead institution for implementation of a set of activities that offer compounding co-benefits for both DRR and climate change adaptation, including the development of a people-centred MHEWS, the creation of a fully functional and well-resourced National Meteorological and Hydrological Service.

    This integration is supported by articulations elsewhere in the country’s strategic profile, with the National Adaptation Plan 2019 including a priority area entitled “upgrading civil defence preparedness and DRR”. Elsewhere, the National Security Strategy of the Republic of Albania (2023–2028) addresses risks ranging from national security threats to climate change impacts, emphasizing resilience to disasters, while the National Strategy for Development and European Integration (NSDEI) 2022–2030 includes the integration of DRR and climate change adaptation planning among its priorities.

    National DRR strategies are the bedrock for multi-hazard risk governance and the achievement of Sendai Framework targets. These strategies help transform risk knowledge into actions and programmes that save lives and livelihoods. In addition, they serve as guides for mobilizing resources, delegating roles and responsibilities within government, and identifying entry points for non-governmental stakeholder engagement, all leading to more inclusive, sustainable development.

    With 131 countries now reporting having national DRR strategies, and 30 receiving technical support from UNDRR to develop them, this is just a snapshot of the progress being made globally in this important area.

    Under Brazil’s presidency, the Group of 20 (G20) recognized DRR as a critical component of economic resilience. Collaborating closely with UNDRR, Brazil facilitated the adoption of the first-ever G20 Ministerial Declaration on DRR. This landmark declaration emphasized the necessity of accelerating the Sendai Framework for Disaster Risk Reduction’s implementation, aiming to reduce disaster losses by 2030, and called for the development of high-level principles for DRR financing. The work of the G20 DRR Working Group, with UNDRR as the lead knowledge partner, further reflected a comprehensive approach to integrating DRR into economic and social policies.

    UNDRR’s capacity-building continues to go from strength to strength, with nearly 10,000 DRR practitioners being trained in 2024, 77 per cent of whom reported having a better understanding of DRR as a result. At one such workshop in the Global Education and Training Institute in Incheon, Republic of Korea, a remarkable collaboration unfolded – a pioneering workshop uniting experts from UNDRR and the Green Climate Fund (GCF) to empower government stakeholders from Mongolia and Bhutan to mobilize relevant partners and stakeholders and obtain funding for their DRR measures. This joint training begins a process of transforming the daunting challenges of climate change into opportunities for proactive DRR.

    Delegates were empowered by not only technical insights, but also the forging of lasting partnerships. The workshop’s training modules, co-designed by UNDRR and GCF specialists, delved deep into practical tools such as the EW4All Checklist for Gap Analysis, equipping participants to critically assess their national capacities and pinpoint vulnerabilities. “Early warning systems are important components for our national climate change adaptation strategy,” noted Ms. Tserendulam Shagdarsuren, Director General of the Climate Change Department, Ministry of Environment and Tourism in Mongolia, emphasizing how the training illuminated the next steps for their evolving EWS.

    This pilot UNDRR–GCF initiative is part of a broader strategy to replicate capacity-building endeavours in developing countries. Future workshops are planned for countries that are in very different geographic contexts yet face similar challenges (particularly those resulting from climate change), such as Somalia, Togo and the SIDS. These workshops aim to accelerate access to climate finance and enhance DRR measures worldwide.

    In a continuation of the Media Saving Lives programme, UNDRR and partners trained 520 journalists and media practitioners in DRR and risk communications, bringing the total to over 2,500 from 80 countries. Media are an integral part of the EWS delivery chain, and engaging them to build trust between government and communities can be the difference between life and death when disaster hits.

    The rise in global temperatures and the increasing frequency and severity of extreme heat events are rapidly becoming central challenges for nations worldwide. Yet many Member States, cities and societies remain ill-prepared to address this escalating threat. The imperative for enhanced extreme heat risk reduction, governance and management is clear. Without urgent and coordinated action, extreme heat will continue to endanger billions of lives, amplify health risks and threaten the ecosystems upon which we depend.

    In response, the UNDRR/World Meteorological Organization (WMO) Centre of Excellence for Climate and Disaster Resilience – together with the Global Heat Health Information Network, Duke University and WMO Centre of Excellence for Climate and Disaster Resilience partners – has developed an extreme heat decision-support package for countries tackling this global threat. The package includes: international organization resource and ecosystem mapping, readiness reviews and profiles; national best practice analytics; evaluations of heat action plans; and materials for development of an extreme heat maturity index for self-assessment. These materials can enhance collaboration, integrated heat risk governance and policy responses to extreme heat.

    UNDRR’s work and that of United Nations system partners, coupled with increasing demands for assistance from Member States, prompted and informed the United Nations Secretary-General’s Call to Action on Extreme Heat, issued in July 2024, in which he emphasized the need for urgent action if a future characterized by even more devastating heat impacts on lives, economies and ecosystems is to be avoided.

    This work is in turn informing the development of a Common Framework for Heat Risk Governance, led by UNDRR with the Global Heat Health Information Network, and Member States, international organizations and stakeholders. The Framework will receive inputs from (and is designed to bring together) multiple sectors, domains and scales – from agriculture and food systems, to energy systems, transportation, construction materials and design, and urban cooling. It is expected to assist national and subnational decision makers in designing and resourcing integrated actions to reduce extreme heat risk to people, urban and rural ecosystems, and the environment, preventing the loss of lives and livelihoods.

    MIL OSI United Nations News –

  • MIL-OSI United Kingdom: Prime Minister announces massive surge in immigration enforcement as returns reach 24,000 since the election

    Source: United Kingdom – Executive Government & Departments

    Press release

    Prime Minister announces massive surge in immigration enforcement as returns reach 24,000 since the election

    The Prime Minister today (Monday 31 March) announced the government has returned more than 24,000 individuals with no right to be in the UK since the General Election – the highest returns rate for eight years.

    • More than 24,000 people with no right to be here returned since July
    • Highest rate of returns in eight years
    • 21% increase enforced returns as government begins to restore order to immigration system under the Plan for Change 

    The Prime Minister today (Monday 31 March) announced the government has returned more than 24,000 individuals with no right to be in the UK since the General Election – the highest returns rate for eight years. 

    Speaking at the Organised Immigration Crime Summit, where over 40 countries and organisations have come together to agree new action to smash people-smuggling gangs, the Prime Minister outlined how the government is finally restoring order to the immigration system after years of failure.

    The continued rise in removals includes a 21% increase in enforced returns and a 16% increase in foreign national offenders being removed from the UK since July 5th, including the 4 biggest returns charter flights in the UK’s history, with a total of more than 850 people on board.

    The massive surge in removals followed the government’s immediate action to redeploy staff across the Home Office to work on policies that deliver results. 

    At the Summit the Prime Minister set out the approach this government is taking to finally take on organised immigration crime – one that moves beyond gimmicks and instead delivers hard graft, international leadership, and delivers on working people’s priorities for secure borders.

    He set out how this is based on giving law enforcement tougher powers than ever to smash the smuggling gangs, ramping up removals to record levels, surging illegal working raids to end the false promise of jobs used by gangs to sell spaces on boats and leading a renewed international law enforcement effort.

    Since taking office the government has reset its approach to global cooperation, striking new bilateral agreements with key international partners including France, Germany, Italy, and Balkan states to disrupt smuggling networks and accelerate removals.

    This is backed by the work of Border Security Commander Martin Hewitt who has been negotiating new agreements to bring together international policing, intelligence, and border enforcement to dismantle organised immigration crime networks at home and abroad.

    This work has already seen arrests of major people smuggling kingpins through joint investigations with the National Crime Agency.

    Prime Minister Keir Starmer said:

    Immigration crime funds the vile people-smuggling gangs that trade in human misery, breach our borders and threaten Britain’s economic security. This government is taking back control, doing the hard graft needed to deliver results, working with our international allies to smash these gangs and secure our borders. 

    We’ve already removed more than 24,000 people with no right to be here and we’re finally shutting down exploitative illegal working, dismantling criminal networks, while forcing people-smuggling gangs out of business.

    For too long, the UK was a soft touch. That ends now. No more gimmicks, no empty promises, just serious action for British security.

    With over 40 international partners joining the UK’s call to treat people-smuggling like terrorism, today’s summit marks the beginning of a new global coalition to take the fight to the criminal gangs at every stage of the smuggling chain.

    This is backed by landmark legislation through the Border Security, Asylum and Immigration Bill, giving new powers to seize migrants’ phones to identify smugglers, criminalise those who endanger lives at sea, and ensure every business carries out right-to-work checks – ending the exploitation of illegal labour for good.

    Additional information:

    Between 5 July and 22 March 2025 there were 24,103 returns, the highest 9 month period compared to any 9-month period since 2017. Prior to this from Jan – Sept 2017, returns were 25,225.

    Of total returns since 5 July 2024:

    • there were 6,339 enforced returns of people with no legal right to remain in the UK
    • 3,594 were of foreign national offenders (FNOs)
    • 6,781 were asylum related returns

    From 5 July 2024 to 22 March 2025 there have been 46 charter flights for returns to countries in Africa, Asia, Europe and South America

    The full stats can be seen here.

    Updates to this page

    Published 31 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Cultural adaptation of foreigners: students of the State University of Management visited the Museum of Time and Clocks

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    Students of the State University of Management, who came to study in Russia from Vietnam, India, China, Nepal and Ethiopia, visited the Museum of Time and Clocks on an excursion.

    The museum opened in November 2022 in Moscow with the support of the Presidential Foundation for Cultural Initiatives and the National Association of Watchmakers. The museum includes a retrospective exhibition dedicated to the development of watchmaking in Russia, temporary exhibitions, an event space for public lectures, conferences, master classes, discussions and round tables.

    Most of the students of the State University of Management who visited the museum are currently studying at the preparatory department and are actively studying Russian, getting acquainted with our culture and history. One of the most interesting methods of immersion in the Russian environment for them was visiting museums.

    This time, foreign students, accompanied by teacher Natalia Krylova, not only enthusiastically practiced their Russian language skills, but also learned about the history of Russian and Soviet watchmaking.

    Time flew by. We are sure that the children have good memories of the excursion.

    Subscribe to the TG channel “Our GUU” Date of publication: 03/31/2025

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: PM commemorates Navratri with a message of peace, happiness, and renewed energy

    Source: Government of India

    Posted On: 31 MAR 2025 9:10AM by PIB Delhi

    The Prime Minister Shri Narendra Modi greeted the nation, emphasizing the divine blessings of Goddess Durga. He highlighted how the grace of the Goddess brings peace, happiness, and renewed energy to devotees. He also shared a prayer by Smt Rajlakshmee Sanjay.

    ***

    MJPS/SR

    (Release ID: 2116956) Visitor Counter : 261

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Governor Newsom proclaims Welcome Home Vietnam Veterans Day

    Source: US State of California 2

    Mar 30, 2025

    Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring March 30, 2025, as Welcome Home Vietnam Veterans Day. 

    The text of the proclamation and a copy can be found below:

    PROCLAMATION

    It has been over a half century since the last American troops returned home from the Vietnam War, which claimed the lives of more than 58,000 U.S. service members, including 5,822 Californians. Today, we pay tribute to the courageous men and women who served and sacrificed in one of our nation’s most challenging wars.

    During a time of great turmoil, Vietnam veterans answered our country’s call throughout more than a decade of harrowing combat – leaving many with lifelong scars, both visible and invisible. These veterans returned home to a deeply divided society and tragically did not receive the support and gratitude they deserved – a shameful reality we must never repeat.

    Let us recommit to lifting up the legacy of our Vietnam veterans and upholding our fundamental duty to honor all service members with the support, gratitude, and respect they are rightfully owed. California is proud to stand by our veterans and remains committed to ensuring they and their families receive the care and benefits they have earned many times over.

    NOW THEREFORE I, GAVIN NEWSOM, Governor of the State of California, do hereby proclaim March 30, 2025, as “Welcome Home Vietnam Veterans Day.”

    IN WITNESS WHEREOF I have hereunto set my hand and caused the Great Seal of the State of California to be affixed this 28th day of March 2025.

    GAVIN NEWSOM
    Governor of California

    ATTEST:
    SHIRLEY N. WEBER, Ph.D.
    Secretary of State

    Recent news

    Mar 28, 2025

    News What you need to know: The Master Plan for Developmental Services: A Community-Driven Vision was released today with recommendations for strengthening support for Californians with intellectual and developmental disabilities and their families to live in the…

    Mar 28, 2025

    News What you need to know: Owner-occupied condos, multi-family units, and certain commercial properties may now eligible for the LA fire debris removal program. The deadline to submit Right of Entry Forms has been extended to April 15. LOS ANGELES – Building on…

    Mar 27, 2025

    News What you need to know: California has formally requested that the federal government add commercial structures and multi-family units to the ongoing fire debris removal efforts in Los Angeles.  LOS ANGELES – Working to expand the scope of the fast-moving wildfire…

    MIL OSI USA News –

  • MIL-OSI USA: Flame in Eternal Flame Memorial Temporarily Out

    Source: US State of Hawaii

    Flame in Eternal Flame Memorial Temporarily Out

    Posted on Mar 28, 2025 in Main

    The flame in the Eternal Flame Memorial is temporarily out because of a blocked gas line. The state of Hawai‘i Department of Accounting and General Services (DAGS) is working to uncover the source of the problem. Blocked gas lines are a rare occurrence.

    This does not pose a safety issue. For now, the gas has been turned off. DAGS says this does not appear to be vandalism.

    On Friday, Hawai‘i Gas Co. crews assisted DAGS by attempting to clear the blocked gas line between the meter on the ‘Ewa side of the memorial, and the flame, by using a high-pressure burst of air, but that was not successful. The next step is for DAGS to clear the line or to replace the plugged section of piping. DAGS will know more by early next week.

    “DAGS is working tirelessly to repair this as soon as possible. The Eternal Flame burns endlessly in remembrance of the December 7, 1941 attack on Pearl Harbor. We understand the importance of maintaining this memorial to honor those who lost their lives defending our freedom,” said DAGS Director and Comptroller Keith Regan.

    The memorial is part of the collection of the Hawai‘i State Foundation on Culture and the Arts (SFCA), an attached agency of DAGS. The copper and bronze abstract art sculpture by Kaua‘i sculptor Bumpei Akaji, a 442nd Regimental Combat Team veteran, sits across the Hawai‘i State Capitol in the Mauka Mall, at 415 S. Beretania Street.

    MIL OSI USA News –

  • MIL-OSI USA: GOVERNOR GREEN, DHHL AWARD MORE THAN 660 PROJECT LEASES IN WEST OʻAHU, MARKING HISTORIC MILESTONE FOR NATIVE HAWAIIAN FAMILIES

    Source: US State of Hawaii

    GOVERNOR GREEN, DHHL AWARD MORE THAN 660 PROJECT LEASES IN WEST OʻAHU, MARKING HISTORIC MILESTONE FOR NATIVE HAWAIIAN FAMILIES

    Posted on Mar 29, 2025 in Latest Department News, Newsroom

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    DEPARTMENT OF HAWAIIAN HOME LANDS

    KA ʻOIHANA ʻĀINA HOʻOPULAPULA HAWAIʻI

    JOSH GREEN, M.D.
    GOVERNOR

    KE KIAʻĀINA

     

    KALI WATSON

    DIRECTOR

    KA LUNA HOʻOKELE

     

    KATIE L. LAMBERT

    DEPUTY DIRECTOR

    KA HOPE LUNA HOʻOKELE

    GOVERNOR GREEN, DHHL AWARD MORE THAN 660 PROJECT LEASES IN WEST OʻAHU, MARKING HISTORIC MILESTONE FOR NATIVE HAWAIIAN FAMILIES

    Dignitaries congratulate first West Oʻahu project lease recipient.

     

     

    FOR IMMEDIATE RELEASE

    March 29, 2025

    ʻEWA BEACH, OʻAHU – Nerves heightened and anticipation filled the room as more than 1,200 beneficiaries and their ‘ohana gathered at the Salvation Army Kroc Center in ʻEwa Beach. The group sat in eager anticipation while the Department of Hawaiian Home Lands (DHHL) prepared to announce the names of recipients for 665 project leases in West Oʻahu — the first such awards in more than 20 years.

    Most have waited decades. Some before statehood.

    “This is more than just awarding land; it’s about delivering on the promise of Prince Kūhiō and ensuring Native Hawaiian families have a permanent place to call home,” said Governor Josh Green, M.D. “Housing is healthcare — when people have stable, secure housing, their overall well-being improves. My administration is committed to making sure every family has that opportunity, and Saturday’s lease awards are a major step forward in that effort.”

    The leases, 605 in Kaʻuluokahaʻi and 60 in Kaupeʻa, represent a significant step toward homeownership. This initiative is part of DHHL’s comprehensive approach to addressing its long-standing waitlist by expediting homesteading opportunities.

    “These lease awards represent hope and progress,” said DHHL Director Kali Watson. “We are not just building homes; we are fostering communities. Our goal is to move as many beneficiaries as possible from the waitlist to the ʻāina, ensuring that Native Hawaiian families can create a legacy for future generations.”

    Unlike previous processes, beneficiaries secure a homestead lot prior to the completion of development. This approach gives families the chance to prepare for both financial and program requirements, thereby ensuring long-term stability and the opportunity to transfer their leases to eligible successors.

    “All my years living I’ve never experienced something like this, and I think this is the best,” said Roberta Akana, West O’ahu project lease awardee. “It’s magnificent.”

    “When we house Hawaiians, we house Hawaiʻi,” said Representative Darius Kila (House District 44 – Honokai Hale, Nānākuli, Māʻili). Kila’s grandmother, on the waitlist since 1988, also received a lease that day.

    Act 279, the department’s transformational $600 million allocation of general funds set forth in 2022 by the Hawaiʻi State Legislature, played a crucial role in the development of both homestead projects by providing the necessary infrastructure.

    A New Era for Hawaiian Homesteads

    The awards ceremony on Saturday, March 22, 2025, is the first of three major project lease distributions this year. DHHL will award an additional 400 leases in West Hawai‘i in April and nearly a thousand on Maui in the fall. The department’s ambitious plan aims to issue more than 6,000 project leases statewide over the next two years.

    Eighty-year-old Lani Sanborn Ahuna has been on the Oʻahu residential waitlist for 22 years and said he was overwhelmed when he heard his name called.

    “I cried. Uē, uē,” Sandborn Ahuna said. “I want to put my feet on the ʻāina no matter how old I am.”

    Following the issuance of the intended 665 project leases in Kaʻuluokahaʻi and Kaupeʻa, Watson called for the awarding of an additional 125 alternate leases: clearing the West Oʻahu project lease waitlist.

    “This initiative ensures that Native Hawaiian families not only receive land but also have the support and resources to turn it into a thriving homestead,” added Watson. “A house is more than four walls — it’s the foundation for health, education, and economic stability. Mahalo to Governor Green, our lawmakers, and our partners for making today possible.”

    Conducted the weekend before Prince Jonah Kūhiō Kalanianaʻole Day, Representative Diamond Garcia (House District 42 – Portions of Varona Village, ʻEwa, and Kapolei, Fernandez Village) paid tribute to Prince Kūhiō and the transformative impacts of project lease awards in his speech: “We honor [Prince Kūhiō] by doing the work.”

    Project leases provide a critical pathway to homeownership, offering options such as turnkey homes, owner-builder lots, and rent-to-own opportunities. Developers Gentry Homes and Mark Development, Inc. are working alongside DHHL to ensure that affordable, high-quality housing is available to beneficiaries.

    For more information about DHHL’s lease awards and upcoming projects, visit dhhl.hawaii.gov.

    # # #

    About the Department of Hawaiian Home Lands:

    The Department of Hawaiian Home Lands carries out Prince Jonah Kūhiō  Kalanianaʻole’s vision of rehabilitating native Hawaiians by returning them to the land. Established by U.S. Congress in 1921 with the passage of the Hawaiian Homes Commission Act, the Hawaiian homesteading program run by DHHL includes management of more than 200,000 acres of land statewide with the specific purpose of developing and delivering homesteading.

    Media Contact:

    Diamond Badajos

    Information and Community Relations Officer

    Department of Hawaiian Home Lands

    Cell: 808-342-0873

    Email: [email protected]

    MIL OSI USA News –

  • MIL-OSI: Soitec confirms its excellence in innovation with progress up 2024 INPI patent ranking

    Source: GlobeNewswire (MIL-OSI)

    Soitec confirms its excellence in innovation with progress up 2024 INPI patent ranking

    Bernin (France), March 31, 2025 – Soitec (Euronext – Tech Leaders), a world leader in the design and production of innovative semiconductor materials, once again demonstrates its excellence in innovation through its rise in the 2024 ranking of patent filers published by the INPI (the French National Institute of Industrial Property).

    This recognition highlights Soitec’s unwavering commitment to innovation and confirms its central role in the development of disruptive technologies, driven by a global strategy and a network of research centers spread across several continents.

    For the first time, the patents filed originate from all of its innovation sites around the world, illustrating a collaborative approach that combines technological excellence with strong local roots.

    With 76 patents filed in France in 2024, compared to 62 the previous year, Soitec:

    • Confirms its 1st place among the most innovative mid-sized companies1, for the second consecutive year;
    • Rises to 22nd place nationally, up three places.

    This achievement reflects the strength of Soitec’s innovation strategy, driven by its research, technology, and intellectual property teams. The company protects its technological advances with a robust patent portfolio, securing its innovations and ensuring product differentiation in the market through the exclusivity of its innovations. With approximately 400 patents filed worldwide each year, Soitec has established itself as an essential technology leader.

    Pierre Barnabé, CEO of Soitec, stated:

    “This progress in the INPI ranking demonstrates Soitec’s unwavering commitment to innovation and intellectual property. Our teams continue to develop breakthrough solutions that address the strategic challenges of our industry. By strengthening our patent portfolio, we consolidate our leadership position and create value for our customers and partners worldwide.”

    Soitec’s continuous investments in R&D enable it to anticipate the needs of strategic markets and address the technological challenges of the future. With 14% of its revenue dedicated to R&D this year2, the company develops innovative materials that accelerate the transition to more efficient and sustainable solutions in the field of mobile communications, artificial intelligence, and power electronics.

    At the same time, Soitec continues to diversify its activities by introducing innovative new products. The company is at the forefront of Photonics-SOI technology, which facilitates the shift from electrical to optical interconnects – a key development for the evolution of data centers and telecommunications. Furthermore, Soitec’s SmartSiC™ silicon carbide wafers, produced using its patented SmartCut™ technology, enhance the performance and sustainability of power electronics applications, which are essential for electric mobility and the energy industry. Another example is Soitec’s POI (Piezoelectric On Insulator), an innovative substrate also manufactured using its SmartCut™ technology. It is based on a high-resistivity silicon substrate, topped with an embedded oxide layer and a thin layer of single-crystal piezoelectric material, making it particularly suitable for advanced applications in optoelectronics and telecommunications.

    Link to the full INPI report: 2024 Patent Filers Ranking

    *****

    About Soitec

    Soitec (Euronext – Tech Leaders), a world leader in innovative semiconductor materials, has been developing cutting-edge products delivering both technological performance and energy efficiency for over 30 years. From its global headquarters in France, Soitec is expanding internationally with its unique solutions, and generated sales of 1 billion Euros in fiscal year 2023-2024. Soitec occupies a key position in the semiconductor value chain, serving three main strategic markets: Mobile Communications, Automotive and Industrial, and Edge and Cloud AI. The company relies on the talent and diversity of its 2,300 employees, representing 50 different nationalities, working at its sites in Europe, the United States and Asia. Soitec has registered over 4,000 patents.

    Soitec, SmartSiC™ and Smart Cut™ are registered trademarks of Soitec.

    For more information: https://www.soitec.com/en/ and follow us on LinkedIn and X: @Soitec_Official

    # # #

    Media Relations: media@soitec.com

    Investor Relations: investors@soitec.com

    1 ETI (Entreprises de Taille Intermédiaire) in French
    2 Before capitalization (Universal Registration Document 2023-2024)

    Attachment

    The MIL Network –

  • MIL-OSI: Large European and US organizations are prioritizing reindustrialization investments over short-term profitability

    Source: GlobeNewswire (MIL-OSI)

    Press contact: 
    Florence Lièvre  
    Tel.: +33 1 47 54 50 71  
    Email: florence.lievre@capgemini.com

    Large European and US organizations are prioritizing reindustrialization investments over short-term profitability

    • To mitigate concerns over supply chain pressures, rising tariffs and trade disputes, cumulative investments within and outside of domestic markets projected to reach $4.7 trillion over the next three years, up from $3.4 trillion in 2024
    • More than half have invested in nearshoring or reshoring their manufacturing over the past year, with 35% planning to increase investments in nearshoring in 2025 to diversify their manufacturing
    • Friendshoring, in terms of sourcing and production, is poised to become a key route forward for nearly three quarters of organizations

    Paris, March 31, 2025 – The 2025’ edition of the Capgemini Research Institute’s report, ‘The Resurgence of manufacturing: Reindustrialization strategies in Europe and the US’, published today, shows that large organizations across the US and Europe are intensifying their focus on reindustrialization to mitigate concerns over supply chain pressures, rising tariffs and trade disputes. The reconfiguration of global supply chains and manufacturing capacity, including ‘reshoring’ and ‘nearshoring1production, as well as diversification, is being strategically prioritized over short-term profitability. Nearly 60% of executives are determined to continue their efforts despite higher costs and most organizations (65%) are reducing reliance on Chinese products. Instead, they are planning to invest in ‘friendshoring’1over the next three years to de-risk their supply chains.

    According to the survey conducted from January 1st to 20th, 2025, market tensions are driving large European and US organizations to accelerate their plans to diversify their manufacturing and supply chains: two thirds have an active or in-progress reindustrialization strategy – up from 59% in 2024.

    “After decades of globalization, the imperative to reindustrialize is clear. Organizations are intensifying their efforts to de-risk and diversify their manufacturing and supply chains through friendshoring to reinforce proximity to markets,” said Aiman Ezzat, Chief Executive Officer at Capgemini. “Complexities and costs involved in re-orchestrating supply chains are not being underestimated. Business leaders are investing to navigate the unpredictable macro-environment and drive long-term competitiveness, taking advantage of advanced technologies. In an evolving global landscape, regional collaboration with suppliers, technology providers and policymakers will be key to build a resilient and adaptable manufacturing ecosystem.”

    Rising tariffs and strain on supply chains drive reindustrialization
    Supply chain resilience, geopolitical concerns, and a desire to be closer to customers emerge as the top drivers of reindustrialization. Supply chain pressure is cited by an overwhelming majority (95%) of executives, a significant increase from 69% in 2024. The desire to be closer to customers is cited for the first time, arriving in second position (92%).

    Rising tariffs are further exacerbating supply chain challenges, with 93% of executives expressing concerns about their impact. Reindustrialization is increasingly viewed as a strategic response to the geopolitical environment – notably for battery/energy storage manufacturing, automotive and telecom – with more than half of executives across regions stating that tariffs are accelerating their reshoring and reindustrialization efforts.

    Executives acknowledge the complexity and cost of reindustrialization. More than six in ten (62%) expect rising capital costs in the next three years but half foresee reduced logistics and supply chain costs within the same period thanks to greater proximity to customers. In addition, nearly two-thirds still view the domestic skills gap as a major challenge, showing no improvement from 2024.

    Nearshore and friendshore manufacturing to surge in the next three years
    Over the past year, business leaders across sectors say that they have intensified their strategy to relocate their production and supply chain with more than half (56%) having invested in either nearshoring or combined reshoring and nearshoring of their manufacturing, up from 42% in 2024. This trend is predicted to continue. In the next three years, onshore and nearshore operations are expected to rise to account for 48% (up 7 percentage points) and 24% (up 2 percentage points) respectively, of total manufacturing capacity.

    According to the report, ‘friendshoring’ is poised to become a key route forward for most organizations (73%) in terms of sourcing and production. It is expected to account for 41% of total manufacturing capacity in the next three years, up from 37% in 2024. More than eight in ten (82%) executives indicate that they plan to reduce supply chain reliance on China, a significant increase from 58% in 2024. Organizations surveyed have instead targeted reindustrialization destinations in North America, UK, Mexico, Vietnam, India and North Africa.

    Advanced technologies to accelerate reindustrialization while driving innovation and reducing costs
    Most organizations (62%) are focusing on upgrading manufacturing facilities to make them smart and tech enabled. Over half of them have realized more than 20% cost savings through digital technologies in their reindustrialization efforts and a large majority (84%) plan to invest in advanced manufacturing technologies to further reduce costs.

    More than 6 in 10 organizations are looking at critical technologies like data and analytics and AI/Machine Learning to support reindustrialization in the next three years. Organizations are also considering emerging technologies such as Gen AI and 5G & Edge computing; blockchain and digital twins; and quantum technologies.

    In addition, nearly three quarters (73%) of organizations foresee that reindustrialization will help catalyze a shift toward sustainable and eco-friendly manufacturing practices, a significant increase from 56% in 2024.

    To read the full report: LINK

    Report Methodology
    During January 1-20, 2025, the Capgemini Research Institute surveyed 1,401 executives employed at organizations with more than $1 billion in annual revenue, across the US, the UK, and continental Europe (France, Germany, Italy, the Netherlands, the Nordics, and Spain). Organizations surveyed operate across 13 key industrial and manufacturing industries. Executives surveyed were at director level and work across diverse business, technology, and manufacturing-related functions. The Capgemini Research Institute also interviewed supply chain and manufacturing executives and experts at large organizations globally.

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.

    Get The Future You Want | www.capgemini.com

    About the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.

    Visit us at https://www.capgemini.com/researchinstitute/

    1 In this research, reshoring is defined as bringing manufacturing/production back to the domestic market/country of headquarters. Nearshoring is defined as moving manufacturing/production to a nearby or neighboring country. Friendshoring is a growing trade practice where supply chain networks are focused on countries regarded as political and economic allies, to further reduce risk exposure.

    Attachments

    The MIL Network –

  • MIL-OSI: Tabi Becomes Title Sponsor of 2025 Bangladesh Cricket Championship

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, March 31, 2025 (GLOBE NEWSWIRE) — Tabi, a Web3 entertainment and consumer blockchain platform backed by Animoca Brands and Binance Labs, has officially signed on as title sponsor of the 2025 Bangladesh Cricket Championship. The partnership marks Tabi’s first major move into the South Asian market, aligning with its mission to bring decentralized technology into everyday culture through sport, entertainment, and community engagement.

    Tabi’s sponsorship reflects more than just branding—it’s part of a broader push to integrate Web3 into real-world experiences that resonate with millions. Cricket, the most beloved sport in Bangladesh and across the region, provides an ideal platform for introducing digital ownership, fan participation, and creator economies powered by blockchain.

    “Tabi is building a Web3 world where culture, content, and community converge,” said Mori Xu, co-founder of Tabi. “Sponsoring the Bangladesh Cricket Championship allows us to connect with a passionate, mobile-first audience through a sport that embodies national identity and collective spirit. This isn’t just a logo placement—it’s an invitation to explore what ownership and participation look like in the next internet era.”

    As part of its broader regional strategy, Tabi sees this sponsorship as a key step in introducing its brand and values to a passionate, mobile-native audience. The move signals Tabi’s intent to explore long-term opportunities where blockchain can enhance fan culture, digital identity, and participation—particularly in regions where community-driven platforms thrive and traditional systems are ripe for innovation.

    While cricket serves as the cultural entry point, Tabi’s long-term goal is to help users across emerging markets access decentralized tools without friction—transforming everyday fandom into on-chain engagement.

    More details about the sponsorship campaign and on-site activations will be shared in the lead-up to the tournament.

    About Tabi Chain
    Tabi Chain is a decentralized blockchain ecosystem designed to facilitate mass adoption of Web3 through seamless social media integration. By leveraging Proof of Attention (PoA) and Tabi Mini Nodes, Tabi Chain enables users to engage with Web3 platforms effortlessly, turning social interactions into meaningful blockchain participation. The project is committed to lowering the barriers to entry for decentralized applications, governance, and digital ownership, fostering a more inclusive and accessible Web3 landscape.

    Media Content:
    Name: Mori Xu
    Media contact: tabimedium@tabilabs.org

    Disclaimer: This press release is provided by Tabi Chain. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.Speculate only with funds that you can afford to lose.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ae996481-be7f-4a47-9123-5350cb24a00b

    The MIL Network –

  • MIL-OSI: Nokia modernizes Vodafone Idea’s optical network to enhance 4G services and support 5G rollout

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia modernizes Vodafone Idea’s optical network to enhance 4G services and support 5G rollout

    • Optical transport upgrade will insulate network against 4G data growth and accelerate commercial 5G rollout in India.
    • Incorporates energy-efficient solutions and processes to minimize VIL’s carbon footprint.

    31 March 2025
    New Delhi, India – Nokia today announced that it will upgrade and expand Vodafone Idea Limited (VIL) optical transport network across key metro and circle locations in India. The upgrade, which utilizes Nokia’s leading optical switching technology, will increase its capacity, supporting 4G data growth. In addition, Nokia’s equipment will modernize the network, providing flexibility and efficiency, and boost VIL’s 5G rollout.

    Among the comprehensive optical suite of products deployed to enable this network overhaul include Nokia’s 1830 Photonic Service Switch (PSS) platform, and its CDC-F 2.0 wavelength switching technologies. In addition, Nokia will also deploy its market-leading photonic service engine (PSE-Vs) super-coherent optics, industry-leading Dense Wavelength Division Multiplexing (DWDM) and optical transport network (OTN) to ensure VIL’s customers continue to experience great connectivity even during peak usage times.

    Nokia’s future-ready solution will also enable VIL to efficiently scale its network from C-band to C+L band as required, avoiding the need for any forklift changes in platform or architecture. This deployment will lead to reduced VIL’s operational costs. Additionally, the project prioritizes sustainability, incorporating energy-efficient solutions and automation-enabled deployment processes to minimize the carbon footprint.

    “Nokia’s innovative optical solutions align perfectly with our goal to enhance customer experience and ensure robust network readiness for future demands. With Nokia’s advanced optical network solutions, we are excited to build an agile, high-capacity and future-ready network that will support India’s digital transformation and drive innovation across sectors,” said Jagbir Singh, CTO at Vodafone Idea Limited.

    “We are proud to be selected by Vodafone Idea (VIL) to modernize their optical transport network. We have been a long-standing partner for them in India, built on our trusted performance in network infrastructure. Our cutting-edge 1830 PSS technology will ensure their readiness to deliver multi-terabit data growth and support upcoming quantum-safe services for their enterprise customers. This significant milestone with VIL, further cements Nokia’s leadership in India’s optical transport market and commitment to enabling next-generation connectivity in India,” said Sang Xulei, Vice President and Head of Network Infrastructure at Nokia Asia Pacific.

    Multimedia, technical information and related news 
    Webpage: Nokia Optical Networks
    Product Page: 1830 Photonic Service Switch (PSS)
    Product page: WaveSuite applications

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    About Vodafone Idea Limited
    Vodafone Idea Limited is an Aditya Birla Group and Vodafone Group partnership. It is amongst
    India’s leading telecom service providers. The Company provides pan India Voice and Data
    services across 2G and 4G platforms. Company holds a large spectrum portfolio including mid
    band 5G spectrum in 17 circles and mmWave spectrum in 16 circles. To support the growing
    demand for data and voice, the Company is committed to delivering delightful customer
    experiences and contributing towards creating a truly ‘Digital India’ by enabling millions of
    citizens to connect and build a better tomorrow. The Company is developing infrastructure to
    introduce newer and smarter technologies, making both retail and enterprise customers future
    ready with innovative offerings, conveniently accessible through an ecosystem of digital
    channels as well as extensive on-ground presence. The Company’s equity shares are listed on
    National Stock Exchange (NSE) and the BSE in India.

    Media inquiries
    Nokia Communications, Asia Pacific
    Email: cordia.so@nokia.com

    Nokia Press Office
    Email: Press.Services@nokia.com

    Follow us on social media
    LinkedIn X Instagram Facebook YouTube

    The MIL Network –